<p>Invesco Ltd. said on Wednesday it facilitated talks between Reliance Industries and Zee Entertainment earlier this year on a possible tie-up, revealing for the first time that India's richest man, Mukesh Ambani, was interested in the television giant.</p>.<p>Invesco's response is the latest in a growing public spat where the US investor, which owns 18 per cent of Zee, is calling for a revamp of Zee's board and the removal of CEO Punit Goenka over alleged corporate governance lapses.</p>.<p><strong>Also read: <a href="www.deccanherald.com/business/zee-questions-motives-of-invesco-over-its-push-for-shakeup-1040111.html" target="_blank">Zee questions motives of Invesco over its push for shakeup</a></strong></p>.<p>Zee said on Tuesday that opposition from Invesco to a proposed merger with Sony Group's India unit "runs contrary to the very deal Invesco was proposing" with Reliance.</p>.<p>Zee has accused Invesco of plotting a hostile takeover of the company, dismissed the requests and says it has tightened its processes.</p>.<p>The two sides are now locked in a bitter legal and public tussle where they are lashing out at each other almost daily.</p>.<p>While the Zee comments on Tuesday did not name which entity Invesco had tried to arrange a deal with, the US firm's statement revealed for the first time that it was Reliance, the giant conglomerate run by Mukesh Ambani.</p>.<p>"The role of Invesco, as Zee's single largest shareholder, was to help facilitate that potential transaction and nothing more," Invesco said.</p>.<p>"...the implication that we as a shareholder would seek out a transaction for Zee that is dilutive to the long-term interests of ordinary shareholders, including ourselves, simply defies logic."</p>.<p>Reliance and Zee did not immediately respond to requests for comment.</p>.<p>Zee's statement on Tuesday said it had rejected the Reliance deal offer over valuation concerns and that "it would result in a loss to the stakeholders of the company."</p>.<p>In recent weeks, Zee, which is a household name in India's television and film landscape, has found support from Bollywood stars, who have said on social media they hope the crisis ends soon for the group.</p>.<p><strong>Check out latest DH videos here:</strong></p>
<p>Invesco Ltd. said on Wednesday it facilitated talks between Reliance Industries and Zee Entertainment earlier this year on a possible tie-up, revealing for the first time that India's richest man, Mukesh Ambani, was interested in the television giant.</p>.<p>Invesco's response is the latest in a growing public spat where the US investor, which owns 18 per cent of Zee, is calling for a revamp of Zee's board and the removal of CEO Punit Goenka over alleged corporate governance lapses.</p>.<p><strong>Also read: <a href="www.deccanherald.com/business/zee-questions-motives-of-invesco-over-its-push-for-shakeup-1040111.html" target="_blank">Zee questions motives of Invesco over its push for shakeup</a></strong></p>.<p>Zee said on Tuesday that opposition from Invesco to a proposed merger with Sony Group's India unit "runs contrary to the very deal Invesco was proposing" with Reliance.</p>.<p>Zee has accused Invesco of plotting a hostile takeover of the company, dismissed the requests and says it has tightened its processes.</p>.<p>The two sides are now locked in a bitter legal and public tussle where they are lashing out at each other almost daily.</p>.<p>While the Zee comments on Tuesday did not name which entity Invesco had tried to arrange a deal with, the US firm's statement revealed for the first time that it was Reliance, the giant conglomerate run by Mukesh Ambani.</p>.<p>"The role of Invesco, as Zee's single largest shareholder, was to help facilitate that potential transaction and nothing more," Invesco said.</p>.<p>"...the implication that we as a shareholder would seek out a transaction for Zee that is dilutive to the long-term interests of ordinary shareholders, including ourselves, simply defies logic."</p>.<p>Reliance and Zee did not immediately respond to requests for comment.</p>.<p>Zee's statement on Tuesday said it had rejected the Reliance deal offer over valuation concerns and that "it would result in a loss to the stakeholders of the company."</p>.<p>In recent weeks, Zee, which is a household name in India's television and film landscape, has found support from Bollywood stars, who have said on social media they hope the crisis ends soon for the group.</p>.<p><strong>Check out latest DH videos here:</strong></p>