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Below are Views on Zee-Sony merger By Ashwin Patil, Senior Research Analyst at LKP Securities

* Total synergies of the merger will be 6-8% in the first full year of the combined entity, mainly driven by revenue synergies. Cost synergies shall follow suit.

* Zee shares will be delisted for three weeks at the time of merger completion before the merged entity gets listed.

* It will take 8 months for the final completion of the merger as it still needs regulatory ( CCI, Stock exchanges, NCLAT) and shareholders' approvals.

* Cash infusion from Sony before the completion of the merger will be USD1.5 bn, till date Sony has infused USD1.1 bn.

* Music and Movies businesses of Sony will not be included under the ambit of this merger and therefore they may compete with the like to like businesses of the merged entity post-merger.

* The cash infusion shall be primarily used to grow the OTT and sports business.

* The merged entity value will be Rs530 bn.

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