Invesco, the largest shareholder of Zee Entertainment Enterprises Ltd (ZEEL), today raised questions over certain aspects of the proposed merger with Sony that it believed would enrich Subhash Chandra and his family at the cost of other shareholders. Zee has been stalling on the EGM, triggering a vicious legal dispute between the Chandras and Invesco. Moreover, the promoters of Zee also have the option of raising their stake to 20 per cent at a later date. Invesco said if its proposal to overhaul the Zee board was approved by other shareholders, the newly- constituted board would decide the future leadership of the company. “Should the Board so decide, it could appoint an interim CEO from among the exceptional talent available within Zee itself.

Source: The Telegraph October 11, 2021 22:30 UTC