LG Group says rumor of Google's plan to buy LG Electronics stake 'absolutely not true'
LG Group has denied that the rumor that California-based tech giant Google [NASDAQ:GOOGL] plans to buy a stake in its electronics unit LG Electronics [KRX:066570], Yonhap News reported.
The report cited the LG Group’s response as saying that the rumor is absolute not true.
LG Electronics shares jumped in the morning trading session on a market rumor that Google is planning to buy a 35% stake in the company. The rumored stake purchase would make Google a larger shareholder than LG Group in the electronics firm, as reported.
The report didn’t say where the rumor comes from.
Yonhap News