Yesterday Bloomberg reported that ” Paytm is in Talks With Zomato to Sell Movie Ticketing Business”.The article stated that Paytm might sell its ticketing business to Zomato.

READ : Zomato might sell movies & events ticket through its platform. Know the details

In clarification to the above article, both Paytm & Zomato filed their clarification with the respective stock exchanges.

Zomato stated that

they are in discussions with Paytm for the aforementioned transaction, however, they have not taken any binding decision at this stage as the decision would require their Board approval and subsequent disclosure in accordance with applicable law. They also stated that the acquisition can further strengthen their Going-out business and it is in line with their stated position of focusing only on our four key businesses currently. While,

Paytm stated that

the company is always looking for ways to increase shareholder value. One idea being considered by them is selling Paytm’s Entertainment business, which is part of their Marketing Services. They also said that “We mentioned in our earnings call that we plan to focus on payment and financial services, as well as digital goods commerce, to help our merchants grow. However, these discussions are still in the early stages and nothing has been agreed upon yet. Therefore, any information about these discussions is speculative and doesn’t need to be formally announced under current regulations.”

The clarification by both of them seems different as Paytm has called the news as speculative in nature while Zomato stated that they are interested in such deal but are yet to make a final call on such acquistion.

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