After reports claimed that Zomato and Paytm parent company One97 Communications are nearing a deal worth Rs 1,500 crore, the food delivery firm has confirmed that it is in discussions to acquire the fintech major's movie ticketing business.
"We have noticed that there are certain news articles circulating in the mainstream media with the subject 'Zomato in talks to acquire Paytm’s movies, ticketing business'. This voluntary disclosure is being made to clarify our stance on the matter given that any transaction that is considered potentially meaningful may create uncertainty in the market," Zomato said in a regulatory filing.
"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," it added in the communication to the exchanges. "The above discussion is being undertaken with the intent to strengthen our going-out business further and is in line with our stated position of focusing only on our four key businesses currently added to the filing."
Paytm has also released a regulatory filing, saying the deal is under consideration and that the discussions are preliminary and non-binding.
In 2021, Zomato had acquired quick commerce platform Blinkit in a deal worth Rs 4,447 crore.
