Gurgram-based Zomato has confirmed it is in discussions to acquire Paytm’s movies and ticketing business. The company said in a stock exchange filing that they are talking to Paytm about the transaction, but no final decision has been made yet.
Zomato wants to strengthen its going-out business and focus on its four key businesses. According to media reports on June 16, Zomato is considering acquiring Paytm’s movie booking and events unit in a deal that may value around Rs 1,600-1,750 crore.
If the transaction goes through, it will be one of Zomato's largest acquisitions after acquiring Uber Eats in 2020 and taking over Blinkit in 2021 in an all-stock deal for Rs 4,447 crore.
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