MUMBAI: Reports late last week that Punit Goenka, managing director and CEO of Zee Entertainment Enterprises Ltd, had flown to Los Angeles to sign off on the proposed merger between Zee and Sony Pictures Networks India (SPN), have gained further heft.
US investment fund Invesco has reportedly cooled off considerably on its objections to the deal as long as one principal condition is met. Which is that the Goenka family does not get any preferential equity (PE) in the merged entity.
