Zee Entertainment story is getting noisy, a matter to worry?
ZEEL's merger creates the largest media and entertainment entity, with 75 channels and two OTT platforms
September 28, 2021 / 09:43 AM IST
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
Invesco, the largest shareholder in Zee Entertainment Enterprises Ltd (ZEEL), is said to have sent a letter to the board of directors of the company, pressing their demand for an extraordinary general meeting (EGM), while asking for an evaluation of the ZEEL-SPIL merger and reiterating their original demand for a leadership change.
Invesco's letter and timeline
On September 11, Invesco sent a letter to the ZEEL board, demanding an EGM to remove two non-executive directors and managing director Punit Goenka. Provisions...