In talks with Paytm to acquire movies & events business: Zomato

NEW DELHI: Online food delivery platform Zomato said on Sunday that it is in talks with Paytm to acquire the financial technology company’s movies and events business.

In a regulatory filing, Zomato said while it is in discussions with Paytm, no binding decision has been taken yet.

“We acknowledge that we are in discussions with Paytm for the aforementioned transaction, however, no binding decision has been taken at this stage that would warrant a board approval and subsequent disclosure in accordance with applicable law,” Zomato said.

The company’s filing was clarifying on reports that it was in talks to acquire Paytm’s movies and ticketing business.

“The above discussion is being undertaken with an intent to further strengthen our going-out business and is in line with our stated position of focusing only on our four key businesses currently,” it said.