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The company said in a stock exchange filing, “We acknowledge that we are in discussions with Paytm for the aforementioned 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.”
“The above 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 currently,” it added.
ET reported on June 16 that Zomato is looking to acquire Paytm’s movie booking and events unit — in a deal that may value Paytm’s vertical at around Rs 1,600-1,750 crore.
Post the addition of receivables from cinema exhibitors, the valuation could go up to Rs 2,000 crore, people aware of the matter said.
Paytm also confirmed discussions regarding the potential transfer of its entertainment business in an exchange filing, saying that all discussions are preliminary and non-binding at this stage.