Zomato, a major player in the foodtech industry, has dismissed reports suggesting a $2 billion acquisition offer for the logistics startup Shiprocket.
Continue Exploring: Foodtech giant Zomato makes strategic bid for Shiprocket, valuing logistics unicorn at $2 Billion
In a stock exchange filing, the company issued a “caution” to investors regarding inaccurate reports circulating in the market about potential acquisitions. The statement clarified that the company currently has no intentions of pursuing any acquisitions.
“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”. 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 plans for any acquisition at this moment,” said Zomato in a filing with the BSE.
The company provided the clarification as a measure of “abundant caution,” expressing concern about the potential uncertainty that the reports could generate in the market.
