Food Delivery company Zomato has confirmed discussions with Paytm regarding the acquisition of Paytm movies and event business.
“We have noticed that there is a specific news article circulating in the mainstream media that is circulating in the mainstream media” Zomato to get Paytm movies, “. Potentially meaningful things can create uncertainty in the market. “I said in the submission of a regulatory authority.
The above discussions are based on the purpose of further strengthening our business, and is in line with the company’s stating that it focuses only on the four major businesses.
In another submission, PayTM also confirmed the ongoing discussion, but there was no particular name ZOMATO. Paytm stated that the potential relocation of the entertainment business, which is part of the marketing service, is one of the opportunities to be considering.
Paytm will focus on payment and financial services, and digital goods commerce. The advanced debate was a preliminary and inconsistent reflection of the statement of Zomato.
According to media reports, this strategic movement is consistent with Zomato’s plan to strengthen “going out” products. Bloomberg previously reported that PayTM negotiated with ZOMATO, selling tickets and events for tickets and events as part of a strategic overhaul, and responding to reduced sales. Potential transactions can evaluate PayTM movies and event businesses in about them. £1,500 crawl.
If it is confirmed, this acquisition will be the second largest in ZOMATO, and in 2021, the blink of the quick commerce platform (previous gluffer) is worth all stock transactions. £4,447 crawls, reports.
ZOMATO is increasing the focus on Quick Commerce by planning to inject additions. £In strengthening the competition, 300 crone was 300 in the blink of a subsidiary. This movement brings a total investment in Zomato’s moment. £2,300 crawls.
The reaction of the stock to this news may be deployed on Tuesday, considering that the Indian stock market will be closed on Monday for holidays.
On Friday, ZOMATO rose 0.7 % £186.19. So far, it has gained about 50 % in 2024.
