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Google to Buy LG? Rumor Denied as Shares Rise

News by admin on Wednesday July 22, 2015.

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LG made Nexus 5
LG made Nexus 5

There has been a rather surprising rumor out of South Korea today with several reports suggesting that Google is interested in buying electronics giant LG. The result has been LG's shares soaring at the prospect of the company falling under the wing of the Android owner.

LG has come out and denied the reports, saying that Google will not be buying a 35% stake in LG for a price of $2.2 billion. We have seen before that a company denying a specific rumor does not necessarily mean that it is not true, so we are certainly interested to see how this plays out in the coming months. Google has yet to comment on the matter but has worked extensively with LG on two Nexus smartphones in the past. However, Mountain View's purchase of Motorola delivered little for the company and Google would surely be wary about becoming part of another hardware company.

While LG is denying the reports, investors are buoyed by the news and the company's shares soared by 14% as a result.

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