July 22, 2015 / 3:08 AM / 4 years ago

LG Electronics shares surge on speculation of Google stake buy

A man looks at a LG Electronics' monitor during the 2014 Korea Electronics Show in Goyang October 17, 2014. REUTERS/Kim Hong-Ji

SEOUL (Reuters) - Shares of South Korea’s LG Electronics Inc (066570.KS) surged in morning trade on Wednesday, rising as much as 14.5 percent at one point on market speculation that Google Inc (GOOGL.O) will acquire a stake in the consumer electronics maker.

LG Electronics spokesman Ken Hong said the market talk was “complete speculation” and that the company does not comment on rumors.

The company's shares were trading 6 percent higher as of 0254 GMT (10.54 p.m. EDT), compared with a 1 percent decline for the broader market .KS11.

Reporting by Se Young Lee; Editing by Muralikumar Anantharaman

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below