Regret being drawn into the dispute between Zee and Invesco: Reliance

'Never resorted to any hostile transactions,' clarifies RIL

Reliance Industries on Wednesday said it had couple of months back made a proposal for merger of its media properties with Zee but dropped the offer over differences over stake of Zee founders.

Hours after Zee Entertainment Enterprises Ltd's biggest shareholder named it as a firm that could help revive the television company's fortunes, billionaire Mukesh Ambani's firm issued a statement clarifying its position.

"In February/ March 2021, Invesco assisted Reliance in arranging discussions directly between our representatives and Mr Punit Goenka, member of the founder family and Managing Director of Zee," it said.

"We had made a broad proposal for merger of