PayPal says not buying Pinterest at this time

PayPal has issued a statement to refute rumours around a possible takeover of Pinterest.

PayPal said it is not pursuing the acquisition of Pinterest, marking an end to speculation of the deal that could have potentially fetched over $45 billion (roughly Rs 3,37,584 crore). In a one-line statement, PayPal denied rumours that it approached the pinboard site, Pinterest, for a takeover, as reported by Bloomberg News last week.

“In response to market rumors regarding a potential acquisition of Pinterest by PayPal, PayPal stated that it is not pursuing an acquisition of Pinterest at this time,” said the San Jose, California-headquartered company. Pinterest, however, has not said a word about the same.