Zee Entertainment Shares Soar After Invesco Drops Plans To Shake Up Management

US investment firm Invesco said on Thursday it would abandon efforts to shake up top management at Zee Entertainment, citing a planned merger between the Indian TV network and the local unit of Japan's Sony Group. Zee's shares rocketed 18% higher on the news. Alleging corporate governance issues, Invesco, which owns nearly 18% of Zee, had sought the ouster of Zee's chief executive officer and the appointment of new independent board members. Zee has denied any wrongdoing. Although Invesco recently won an Indian court order to call a meeting of Zee shareholders, it said it had decided not to pursue the issue. "Following the merger's consummation, the board of the newly combined company will be substantially reconstituted, which will achieve our objective of strengthening board oversight of the company," Invesco said in a statement.

U.S. investment firm Invesco said on Thursday it would abandon efforts to shake up top management at Zee Entertainment, citing a planned merger between the Indian TV network and the local unit of Japan's Sony Group. Zee's shares rocketed 18% higher on the news. Alleging corporate governance issues, Invesco, which owns nearly 18% of Zee, had sought the ouster of Zee's chief executive officer and the appointment of new independent board members. Zee has denied any wrongdoing. Although Invesco recently won an Indian court order to call a meeting of Zee shareholders, it said it had decided not to pursue the issue. "Following the merger's consummation, the board of the newly combined company will be substantially reconstituted, which will achieve our objective of strengthening board oversight of the company," Invesco said in a statement.U.S. investment firm Invesco said on Thursday it would abandon efforts to shake up top management at Zee Entertainment, citing a planned merger between the Indian TV network and the local unit of Japan's Sony Group. Zee's shares rocketed 18% higher on the news. Alleging corporate governance issues, Invesco, which owns nearly 18% of Zee, had sought the ouster of Zee's chief executive officer and the appointment of new independent board members. Zee has denied any wrongdoing. Although Invesco recently won an Indian court order to call a meeting of Zee shareholders, it said it had decided not to pursue the issue. "Following the merger's consummation, the board of the newly combined company will be substantially reconstituted, which will achieve our objective of strengthening board oversight of the company," Invesco said in a statement.U.S. investment firm Invesco said on Thursday it would abandon efforts to shake up top management at Zee Entertainment, citing a planned merger between the Indian TV network and the local unit of Japan's Sony Group. Zee's shares rocketed 18% higher on the news. Alleging corporate governance issues, Invesco, which owns nearly 18% of Zee, had sought the ouster of Zee's chief executive officer and the appointment of new independent board members. Zee has denied any wrongdoing. Although Invesco recently won an Indian court order to call a meeting of Zee shareholders, it said it had decided not to pursue the issue. "Following the merger's consummation, the board of the newly combined company will be substantially reconstituted, which will achieve our objective of strengthening board oversight of the company," Invesco said in a statement.U.S. investment firm Invesco said on Thursday it would abandon efforts to shake up top management at Zee Entertainment, citing a planned merger between the Indian TV network and the local unit of Japan's Sony Group. Zee's shares rocketed 18% higher on the news. Alleging corporate governance issues, Invesco, which owns nearly 18% of Zee, had sought the ouster of Zee's chief executive officer and the appointment of new independent board members. Zee has denied any wrongdoing. Although Invesco recently won an Indian court order to call a meeting of Zee shareholders, it said it had decided not to pursue the issue. "Following the merger's consummation, the board of the newly combined company will be substantially reconstituted, which will achieve our objective of strengthening board oversight of the company," Invesco said in a statement.U.S. investment firm Invesco said on Thursday it would abandon efforts to shake up top management at Zee Entertainment, citing a planned merger between the Indian TV network and the local unit of Japan's Sony Group. Zee's shares rocketed 18% higher on the news. Alleging corporate governance issues, Invesco, which owns nearly 18% of Zee, had sought the ouster of Zee's chief executive officer and the appointment of new independent board members. Zee has denied any wrongdoing. Although Invesco recently won an Indian court order to call a meeting of Zee shareholders, it said it had decided not to pursue the issue. "Following the merger's consummation, the board of the newly combined company will be substantially reconstituted, which will achieve our objective of strengthening board oversight of the company," Invesco said in a statement.U.S. investment firm Invesco said on Thursday it would abandon efforts to shake up top management at Zee Entertainment, citing a planned merger between the Indian TV network and the local unit of Japan's Sony Group. Zee's shares rocketed 18% higher on the news. Alleging corporate governance issues, Invesco, which owns nearly 18% of Zee, had sought the ouster of Zee's chief executive officer and the appointment of new independent board members. Zee has denied any wrongdoing. Although Invesco recently won an Indian court order to call a meeting of Zee shareholders, it said it had decided not to pursue the issue. "Following the merger's consummation, the board of the newly combined company will be substantially reconstituted, which will achieve our objective of strengthening board oversight of the company," Invesco said in a statement.U.S. investment firm Invesco said on Thursday it would abandon efforts to shake up top management at Zee Entertainment, citing a planned merger between the Indian TV network and the local unit of Japan's Sony Group. Zee's shares rocketed 18% higher on the news. Alleging corporate governance issues, Invesco, which owns nearly 18% of Zee, had sought the ouster of Zee's chief executive officer and the appointment of new independent board members. Zee has denied any wrongdoing. Although Invesco recently won an Indian court order to call a meeting of Zee shareholders, it said it had decided not to pursue the issue. "Following the merger's consummation, the board of the newly combined company will be substantially reconstituted, which will achieve our objective of strengthening board oversight of the company," Invesco said in a statement.U.S. investment firm Invesco said on Thursday it would abandon efforts to shake up top management at Zee Entertainment, citing a planned merger between the Indian TV network and the local unit of Japan's Sony Group. Zee's shares rocketed 18% higher on the news. Alleging corporate governance issues, Invesco, which owns nearly 18% of Zee, had sought the ouster of Zee's chief executive officer and the appointment of new independent board members. Zee has denied any wrongdoing. Although Invesco recently won an Indian court order to call a meeting of Zee shareholders, it said it had decided not to pursue the issue. "Following the merger's consummation, the board of the newly combined company will be substantially reconstituted, which will achieve our objective of strengthening board oversight of the company," Invesco said in a statement.U.S. investment firm Invesco said on Thursday it would abandon efforts to shake up top management at Zee Entertainment, citing a planned merger between the Indian TV network and the local unit of Japan's Sony Group. Zee's shares rocketed 18% higher on the news. Alleging corporate governance issues, Invesco, which owns nearly 18% of Zee, had sought the ouster of Zee's chief executive officer and the appointment of new independent board members. Zee has denied any wrongdoing. Although Invesco recently won an Indian court order to call a meeting of Zee shareholders, it said it had decided not to pursue the issue. "Following the merger's consummation, the board of the newly combined company will be substantially reconstituted, which will achieve our objective of strengthening board oversight of the company," Invesco said in a statement.U.S. investment firm Invesco said on Thursday it would abandon efforts to shake up top management at Zee Entertainment, citing a planned merger between the Indian TV network and the local unit of Japan's Sony Group. Zee's shares rocketed 18% higher on the news. Alleging corporate governance issues, Invesco, which owns nearly 18% of Zee, had sought the ouster of Zee's chief executive officer and the appointment of new independent board members. Zee has denied any wrongdoing. Although Invesco recently won an Indian court order to call a meeting of Zee shareholders, it said it had decided not to pursue the issue. "Following the merger's consummation, the board of the newly combined company will be substantially reconstituted, which will achieve our objective of strengthening board oversight of the company," Invesco said in a statement.U.S. investment firm Invesco said on Thursday it would abandon efforts to shake up top management at Zee Entertainment, citing a planned merger between the Indian TV network and the local unit of Japan's Sony Group. Zee's shares rocketed 18% higher on the news. Alleging corporate governance issues, Invesco, which owns nearly 18% of Zee, had sought the ouster of Zee's chief executive officer and the appointment of new independent board members. Zee has denied any wrongdoing. Although Invesco recently won an Indian court order to call a meeting of Zee shareholders, it said it had decided not to pursue the issue. "Following the merger's consummation, the board of the newly combined company will be substantially reconstituted, which will achieve our objective of strengthening board oversight of the company," Invesco said in a statement.U.S. investment firm Invesco said on Thursday it would abandon efforts to shake up top management at Zee Entertainment, citing a planned merger between the Indian TV network and the local unit of Japan's Sony Group. Zee's shares rocketed 18% higher on the news. Alleging corporate governance issues, Invesco, which owns nearly 18% of Zee, had sought the ouster of Zee's chief executive officer and the appointment of new independent board members. Zee has denied any wrongdoing. Although Invesco recently won an Indian court order to call a meeting of Zee shareholders, it said it had decided not to pursue the issue. "Following the merger's consummation, the board of the newly combined company will be substantially reconstituted, which will achieve our objective of strengthening board oversight of the company," Invesco said in a statement.U.S. investment firm Invesco said on Thursday it would abandon efforts to shake up top management at Zee Entertainment, citing a planned merger between the Indian TV network and the local unit of Japan's Sony Group. Zee's shares rocketed 18% higher on the news. Alleging corporate governance issues, Invesco, which owns nearly 18% of Zee, had sought the ouster of Zee's chief executive officer and the appointment of new independent board members. Zee has denied any wrongdoing. Although Invesco recently won an Indian court order to call a meeting of Zee shareholders, it said it had decided not to pursue the issue. "Following the merger's