Payments company PayPal is “not looking to acquire Pinterest at this time.” PayPal says so after rumours surfaced late last week that it wanted to buy the digital image bulletin board.
Bloomberg news agency reported last week based on insiders that the companies are in talks about a possible merger. PayPal would offer $70 per Pinterest share, making the internet company worth $45 billion.
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It is not clear from PayPal’s short response whether the rumours were wrong or whether the talks have come to nothing for the time being.
The Pinterest share price, which had risen last week, immediately fell by 13 percent after the PayPal announcement. Shares of PayPal, on the other hand, gained 4.8 percent.
