Zomato Clarifies in Regulatory Filing: Discussions with Paytm Underway, No Final Decision Reached
Zomato, the online food delivery platform, announced on Sunday its ongoing discussions with Paytm regarding the potential acquisition of the financial technology company’s movies and events business.
In a regulatory filing, Zomato clarified that while discussions with Paytm are in progress, no definitive decision has been reached at this stage.
“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,” Zomato stated.
The clarification comes amid reports suggesting Zomato’s interest in acquiring Paytm’s movies and ticketing business.
“The above 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 businesses currently,” Zomato added.
