PayPal Says It Is Not Pursuing Pinterest Acquisition

PayPal Says It Is Not Pursuing Pinterest Acquisition
A Pinterest logo is seen on a smartphone placed over U.S. dollar banknotes and a 3D printed PayPal logo in this illustration taken on Oct. 20, 2021. Dado Ruvic/Illustration/Reuters
Reuters
Updated:

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 percent to $255.20 in premarket trading on Monday, while those of Pinterest fell about 10 percent to $52.50.