Sumary of Invesco reveals it proposed Zee’s merger with Reliance, suggests that the company left money on the table in Sony merger:
- In the latest round of back and forth between Zee and its investor Invesco, the latter has revealed that it had proposed a merger with Reliance.
- Invesco also hinted that the interest shown by Sony and Reliance in Zee suggests that the Punit Goenka-led company left money on the table in its merger with Sony.
- Zee’s founder Subhash Chandra Goenka had earlier expressed doubt about Invesco’s intentions, asking if it had cut a deal with another company.
- The Zee-Invesco brawl continues to intensify, with the investment fund hitting back that it had proposed a strategic merger of Zee with Reliance Industries, which also owns media and entertainment properties.
- In its latest salvo, Invesco hinted that Zee Entertainment left money on the table in its merger with Sony Pictures Networks, which was announced in September.
- This response comes after Zee Entertainment’s Managing Director and Chief Executive Officer Punit Goenka alleged that Invesco’s deal would have led to a loss of ₹10,000 crore for the shareholders of the company.
- Invesco also revealed that the Zee-Reliance merger talks involved Punit Goenka, shedding new light on the matter.
- Update 2: Reliance Industries has issued a statement clarifying that Invesco approached it to facilitate discussions with Zee’s Punit Goenka.