Zee has questioned Invesco’s motive behind moving its management
Media conglomerate Zee said on Tuesday that it was not related to any legal governance or business performance issues for the management shakeup at the media firm ahead of US investor Invesco’s plan for its merger with Japan’s Sony Group.
Invesco, which holds about 18 per cent stake in Zee, has said that the terms of the planned Zee-Sony merger gave Zee’s founding family the option to increase their stake from 4 per cent to 20 per cent, which the US firm “completely”. from” said. opaque”, adding that some shareholders would be unfairly rewarded at the expense of others.
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