Zomato in talks to acquire Paytm's movies and events business

Zomato has confirmed discussions with Paytm regarding the potential acquisition of Paytm's movies and events businesses. In a filing to the stock exchange on June 16, Zomato clarified that while talks are ongoing, no binding decision has been reached that would necessitate board approval or legal disclosure under current regulations. \r

Paytm similarly acknowledged the discussions, stating that exploring strategic opportunities to enhance shareholder value, including the potential transfer of its Entertainment business, aligns with its broader focus on payment and financial services. \r

The speculated deal, reportedly valued between Rs 1500-Rs 2000 crore, aims to bolster Zomato's "Going-out" business segment, strengthening its position across its four key business areas. This move follows Zomato's recent acquisition of Blinkit in a significant all-stock transaction worth Rs 4,447 crore.