Invesco says it facilitated tie-up talks between India’s Reliance and Zee

Invesco said on Wednesday it facilitated talks between India’s Reliance Industries and Zee Entertainment earlier this year on a possible merger, revealing for the first time that India’s richest man, Mukesh Ambani, was interested in the television giant.

But the U.S. investment firm rejected allegations from Zee that it was using double standards in objecting to a merger of Zee and Sony Group’s India unit with terms similar to those discussed with Reliance.

Invesco’s response is the latest in a growing public spat in which the U.S. asset manager, which owns 18% of Zee, is calling for a revamp of Zee’s board and the removal of CEO Punit Goenka over alleged corporate governance lapses.