In an important twist to the Zee-Sony merger, the single largest shareholder Invesco, which is engaged in a legal war with Zee, seems to be taking a positive approach towards the deal. People in the know indicated that Invesco is favourably inclined to the deal provided corporate governance issues are addressed.

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Therefore, as far as there is no increase of stake, as part of the merger process, by the promoters of Zee Entertainment in the merged entity above 4 percent, Invesco is likely to be in favour of the deal as the construct has been announced so far and of course, a lot depends on the deal dynamics once the final announcement is made.

Watch the accompanying video of CNBC-TV18’s Nisha Poddar for more details.