Zee's search for a partner

It has neither got the money nor a strategic investor. Zee's disappointing deal with Invesco, however, could be a precursor to a better strategic foray

The street was hoping for a foreign strategic investor to trigger an open offer, but eventually it came to a financial transaction,” says Mihir Shah, vice president (India), Media Partners Asia. 

That sums up the feeling about the most awaited media deal in India. After more than nine months of speculation, it wasn’t Comcast, Sony or Reliance Jio but US-based Invesco Oppenheimer Developing Markets Fund that took 11 per cent in Zee Entertainment Enterprises for Rs 4,224 crore on July 31.

Zee is among India’s largest media firms. Its 41 channels in 10 languages get a massive 19 per cent