Chandra apologizes as Zee fortunes plummet
“Negative forces have attacked the price, with an intention of sabotaging ZEE Entertainment’s sale process,” says Chandra
“The debt burden is purely at the promoter level, which is reflecting negatively on the companies,” wrote Chandra
NEW DELHI : Zee and Essel Group chairman Subhash Chandra blamed unnamed “negative forces" but also admitted to making bad investments and incorrect bids after nearly $2 billion was wiped off the Zee Group stocks on Friday following media reports of a government probe into alleged post-demonetization cash transactions involving entities related to Essel Group.
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