Invesco to cut its holding in Zee Entertainment by more than a third to 11 per cent

US investment firm Invesco is set to cut its holding in Zee Entertainment by more than a third to 11 per cent, it said on Wednesday, days after giving up on an attempt to shake up the management at the Indian media company.

Invesco currently owns 18 per cent of Zee through its funds. It had earlier sought the ouster of Zee’s chief executive officer and the appointment of new independent board members, alleging corporate governance issues, but later abandoned the plan. Zee has denied any wrongdoing.