Mumbai: Invesco on Wednesday denied India’s Zee allegations that the US investment firm opposed the TV conglomerate’s possible deal with Japan’s Sony Group before merging with another group that would hurt shareholder interests.
Zee on Tuesday said opposition to Invesco, which owns about 18% of Zee Entertainment through the two funds, to the proposed Zee-Sony merger was hypocritical as it saw the media firm as “some entities owned by a large Indian conglomerate”. Tried to combine with conditions. Similar to the Sony deal.
Disclosing the group’s identity as Reliance Industries for the first time, Invesco said merger talks were held between the Mukesh Ambani-run company and the family of Zee CEO Puneet Goenka.
Invesco’s role was to “help facilitate that potential transaction and nothing more”.
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