Paytm Is in Talks With Zomato to Sell Movie Ticketing Business
- A deal will allow Paytm to streamline and focus on revival
- Startup Zomato is keen to boost its leisure operations
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Paytm is in talks to sell its movie and ticketing business to Zomato Ltd., as the Indian fintech pioneer seeks to unload non-core assets and revive sales hurt by a regulatory crackdown.
The fintech firm is considering a potential transfer of its entertainment business but has yet to enter into any binding agreements, the company officially known as One97 Communications Ltd. said in a stock exchange filing late Sunday. Zomato acknowledged in a separate statement it’s in discussions with Paytm for such a deal, to boost what it called its “going-out” business.