Invesco Developing Markets Fund has announced plans to sell up to 7.8% stake in ZEE Entertainment Enterprises Limited through a bookbuild transaction. Invesco will continue to own an 11% stake in ZEE, according to Exchange4media.
A statement said, “Upon completion of the bookbuild, funds managed by Invesco’s Developing Markets investment team, including Invesco Developing Markets Fund, will continue to own in aggregate at least 11% of ZEE, underscoring the investment team’s belief that the Sony deal in its current form has great potential for ZEE shareholders.”
Invesco also reaffirmed its support for the ZEE-Sony merger. It said it will “continue to monitor the proposed merger’s progress.”
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