PayPal says it is not pursuing Pinterest acquisition – The Peninsula Qatar

  • Date: 25-Oct-2021
  • Source: The Peninsula Qatar
  • Sector:Financial Markets
  • Country:Qatar
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PayPal says it is not pursuing Pinterest acquisition – The Peninsula Qatar

FILE PHOTO: Pinterest app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

PayPal Inc is not pursuing an acquisition of Pinterest Inc at this time, the payments company said late on Sunday, responding to media reports that it was in talks to buy the digital pinboard site for as much as $45 billion.

PayPal shares rose 6.2% to $255.20 in premarket trading on Monday, while those of Pinterest fell about 10% to $52.50.

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