Zomato in talks to buy Paytm’s movie ticketing business?

‘No binding decision yet’; the deal is likely to be for Rs1500 c

MUMBAI: Zomato, the food delivery major, has said it has been in talks to acquire the movie ticketing and events business from Paytm. In a clarification note sent to the exchanges, the company said negotiations are continuing over a Rs1,500-crore deal between One97 Communications Ltd, Paytm’s parent company and Zomato. The talks are reportedly in advanced stages.

In this connection, Zomato said, “We acknowledge that we are in discussions with Paytm for the 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.”

Four key businesses

The company further said, “The 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 business.”

Zomato had taken over quick commerce platform Blinkit in 2021 in an all-stock deal valued at Rs4,447 crore. If the deal with Paytm goes through, this acquisition would mark Zomato’s second-largest purchase in three years. .

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