Zomato denies acquisition rumours of Shiprocket

Food delivery platform Zomato has rejected a news report
claiming that the company will acquire startup Shiprocket for $2
billion.

In a BSE filing, Zomato informed, "We have noticed that there are
certain news articles circulating in the mainstream media with
the subject -Zomato offers to acquire Shiprocket for $2 billion".

Zomato said it generally refrains from commenting on media
speculation but this time it decided to provide clarity due to the
significant scale and potential market impact of the reported
deal.
The publicly traded food delivery company added, "We deny this
statement and would like to caution investors against such
incorrect news floating in the market. We remain focused on our
existing businesses with no plan for any acquisition at this
moment".

Read more