MUMBAI: After being outed as it by were by Zee Entertainment Enterprises Ltd's aggressive takedown of Invesco Developing Markets Fund's (ZEE's single largest investor) actions in the ongoing battle for control of the Indian media major, Reliance Industries has issued a statement clarifying its position.
RIL stated Wednesday that it has been unnecessarily drawn into the boardroom battle and further said that the proposed merger deal between its media properties and ZEE could not proceed further due to differences between the company's promoters and Invesco.
