Akshata Sharma
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Vijay Shekhar Sharma-led Paytm is in discussions with Deepinder Goyal-led Zomato to sell his movie and events ticketing business.
According to a Bloomberg report, the talks between the two companies are in advanced stages, although there are other interested parties.
The report comes months after the RBI took significant action against Paytm Payments Bank, prompting Paytm to establish new partnerships with lenders.
If successful, the deal will allow Paytm to concentrate more on its travel, deals, and cashback businesses, which are crucial for expanding its merchant base and increasing sales.
"We acknowledge that we are in discussions with Paytm for the 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 said in the statement.
"The 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," the company said.
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