Invesco Developing Markets Fund

Zee-Sony merger hurdle removed as Invesco drops EGM demand

Last updated : Mar 26, 2022 08:03
SportzPower Team
Mar 25, 2022 10:03

MUMBAI: Invesco Developing Markets Fund has decided not to pursue its requisition for an extraordinary general meeting (EGM), thereby removing the last hurdle in the the merger of Zee Entertainment Enterprises Ltd (ZEEL) with Sony.

ZEEL welcomed Invesco's decision, stating it continues to seek the required valuable support from all its stakeholders.

Soon after the announcement by Invesco, which owns just over 18% in ZEEL, the media company's shares jumped 16.83% to Rs 299.15 on the BSE on Thursday.

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