BENGALURU -- In a reprieve for Zee Entertainment, its largest shareholder has decided not to press for an extraordinary general meeting to appoint independent directors in a bid to improve corporate governance.
Zee Entertainment shares had surged 16% by the close of trading on Thursday after Invesco Developing Markets Fund, which owns 18% of the company, said it believes Zee's proposed merger with Sony Pictures Network India (SPNI) "in its current form has great potential for Zee shareholders."
