Zee-Sony deal: Invesco likely to back if promoter stake stays at 4%

In an important twist to the Zee-Sony merger, the single largest shareholder Invesco, which is engaged in a legal war with Zee, seems to be taking a positive approach towards the deal. People in the know indicated that Invesco is favourably inclined to the deal provided corporate governance issues are addressed.

Therefore, as far as there is no increase of stake, as part of the merger process, by the promoters of Zee Entertainment in the merged entity above 4 percent, Invesco is likely to be in favour of the deal as the construct has been announced so far and of course, a lot depends on the deal dynamics once the final announcement is made.