PayPal says is not pursuing acquisition of Pinterest
© Reuters. FILE PHOTO: A Pinterest logo is seen on a smartphone placed over U.S. dollar banknotes and a 3D printed PayPal logo in this illustration taken October 20, 2021. REUTERS/Dado Ruvic/Illustration
(Reuters) – PayPal (NASDAQ:PYPL) Inc is not pursuing an acquisition of Pinterest (NYSE:PINS) Inc at this time, the online payments provider said on Sunday, responding to market rumors.
Earlier in the week, it was reported that the payments behemoth had offered to buy digital pinboard site Pinterest for $45 billion, or about $70 per share, mostly in stock.
Pinterest did not immediately respond to a Reuters request for comment outside of business hours.
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