Invesco denies allegations it tried to hurt Zee shareholder interests
MUMBAI (Reuters) - Invesco on Wednesday
denied allegations from India's Zee that the U.S. investment firm pitched a
merger with another group that would have hurt shareholder interests before
opposing the TV group's potential deal with Japan's Sony Group.
Zee on Tuesday said opposition from Invesco, which owns roughly
18% of Zee Entertainment via two funds, to the proposed Zee-Sony merger was
hypocritical as it tried to combine the media firm with "certain entities
owned by a large Indian group" with terms similar to the Sony deal.
Revealing the group's identity for the first as Reliance
Industries, Invesco said
the merger talks were between the Mukesh Ambani-run company and Zee CEO Punit
Goenka's family. Invesco's role was to "help facilitate that potential
transaction and nothing more," it said.
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