Invesco reveals it proposed Zee’s merger with Reliance, suggests that the company left money on th …

invesco reveals it proposed zees merger with reliance suggests that the company left money on the table in sony merger

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.

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