Failed merger transaction reaffirms ZEEL’s value in Indian media and entertainment space
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
The Zee Entertainment Enterprises Ltd (ZEEL)-Invesco tussle continues to deliver media bytes, with largely no changes to the fundamental trajectory of the business. These claims and counterclaims seem to be a tail-end development and are likely to die down naturally with time.
The dispute continues to get noisy and bitter after ZEEL management’s efforts to scuttle the extraordinary general meeting (EGM) called by Invesco. On October 12, Zee Entertainment released details of MD and CEO Punit Goenka’s letter to…