Invesco deal better as it meets my timelines: ZEEL's Punit Goenka

We would have liked it to be Comcast too but this is a better deal because it was meeting my timelines, says Punit Goenka

Punit Goenka sounds relieved as the process of divesting promoter stake in the Rs 7,933-cr Zee Entertainment Enterprises is finally over. Soon after the deal was finalised, he spoke to Vanita Kohli-Khandekar. Edited excerpts:

Why Invesco?

There were several options (He refuses to discuss the details of these). But this was a pure-play equity deal. Also, we had an existing relationship with Oppenheimer (which Invesco bought in 2018) for 17 years. They own 8 per cent in Zee. This takes their holding to 19 per cent. I have known Justin Leverenz (portfolio manager, Invesco Oppenheimer Developing Markets Fund) personally. And this deal