Zomato in talks to acquire Paytms movie events biz for Rs 2000 crore

Fintech player Paytm is in talks with Zomato to sell its movie and event ticketing business. The talks are happening as the fintech player focuses on its payments and financial services business.

According to sources, the deal would be in the range of Rs 1,600 crore to Rs 2,000 crore. Sources also said that Paytm is currently merging its Movies business and the Insider vertical into one team.

Attempts to connect with Paytm and Zomato were not successful until the time of the press.

The Vijay Shekhar Sharma-led firm is trying to regain lost ground by doubling down on its focus on payments and adopting a distribution-first approach for financial services. As such, the company is focusing on its larger businesses that can grow and become profitable at scale.