Invesco Denies Allegations It Tried To Hurt Zee Shareholder Interests

Invesco owns round 18% of Zee Leisure by way of two funds.

Mumbai: Invesco on Wednesday denied allegations from India’s Zee that the U.S. funding agency pitched a merger with one other group that will have damage shareholder pursuits earlier than opposing the TV group’s potential take care of Japan’s Sony Group.

Zee on Tuesday mentioned opposition from Invesco, which owns roughly 18% of Zee Leisure by way of two funds, to the proposed Zee-Sony merger was hypocritical because it tried to mix the media agency with “sure entities owned by a big Indian group” with phrases just like the Sony deal.

Revealing the group’s identification for the primary as Reliance Industries, Invesco mentioned the merger talks had been between the Mukesh Ambani-run firm and Zee CEO Punit Goenka’s household.

Invesco’s function was to “assist facilitate that potential transaction and nothing extra,” it mentioned.

(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)

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