Invesco To Cut Down Stake In Zee Entertainment To 11%

Invesco is set to reduce its stake in Zee Entertainment to 11 per cent

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US investment firm Invesco is set to cut its stake in Zee Entertainment by more than a third to 11 per cent, it said on Wednesday, days after it abandoned an attempt to shake off management at the Indian media company.

Invesco, which currently owns 18 percent of Zee through its funds, had earlier sought the removal of Zee’s chief executive officer and the appointment of new independent board members, alleging corporate governance issues, but The plan was later abandoned. Zee has denied any wrongdoing.