Ticketing, movie business deal: Zomato, Paytm confirm talks are on

Food delivery giant Zomato and financial technology (fintech) major Paytm have officially confirmed that they are in talks for a potential acquisition of Paytm’s movie and event ticketing business. Both companies disclosed this in regulatory filings on Monday.

“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 board approval and subsequent disclosure in accordance with applicable law,” Zomato stated.