Overhang On Stock Remains Despite Zee’s Deal With Invesco Oppenheimer, Say Brokerages

Brokerages say the deal may offer a temporary reprieve but it does not remove the overhang on the stock.

Subhash Chandra, Chairman, Essel Group and Zee Media. (Photo Courtesy: Twitter/ @subhashchandra)

Subhash Chandra-led Essel Group’s deal to sell up to 11 percent stake in Zee Entertainment Enterprises Ltd. to Invesco Oppenheimer will offer only temporary reprieve to the media conglomerate, according to most brokerages.

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