Naman Ramachandran India’s Zee Entertainment Enterprises finally agreed on Thursday to investment firm Invesco’s long-pending demand for an extraordinary general meeting (EGM) of shareholders, after the Bombay high court agreed to allow the group a week to contest the resolution passed.Zee will set a date for the meeting on Friday.The Atlanta-based Invesco fund, which holds 18% of Zee shares has been calling since Sept.
11 for an EGM that would remove CEO Punit Goenka, who, along with his family holds a 4% share in the company, and add six directors of its choosing to the board.However, on Sept.
21, Zee sprang a surprise when it revealed a merger with Sony Pictures Networks India. The merged company is to be headed by Goenka and, following.
Read more on variety.com