Zee Entertainment on Wednesday called on Sony to proceed with a proposed $10 billion (¥1.48 trillion) merger between them, asking an Indian tribunal to order the Japanese company to honor its obligations.
Sony terminated merger plans with Zee on Monday after more than two years of negotiations, seeking $90 million in termination fees from the Indian broadcaster for alleged breaches of terms of their agreement.
The Japanese company said certain "closing conditions" for the merger were not satisfied despite "good faith discussions" with Zee, and the companies had been unable to agree on an extension by their Jan. 21 deadline.