Shares in German luxury TV maker Loewe surged on talk of a bid from Apple, rumours that first surfaced in May last year
"Apple supposedly wants to bid 4 euros a share for Loewe," said a trader.
in the maker of high-end home entertainment sets, founded in 1923 in
Berlin, rose 33 percent to 3.63 eurosby 1440 GMT, having hit 3.93,
valuing the company at 53 million euros.
A Loewe spokesman said it was unaware of any offer. An Apple declined spokesman declined to comment.
blog AppleInsider reported in May last year, citing a person familiar
with the matter, that Apple would bid 87.3 million euros, then a 48
percent premium, for Loewe.
Loewe is axing a fifth of its 1,000
jobs after losses almost tripled to 29 million euros in 2012 and it is
trying to strengthen its cooperation with Sharp.
Sharp owns 28
percent of Loewe shares, and Loewe's management owns 13 percent. A
further 11 percent are held by LaCie, while 49 percent of the company's
shares are freely traded, according to Thomson Reuters data.
It would not be the first foray into television for Apple, whose products stream Netflix, YouTube and iTunes content.
company has been long rumoured to be working on a television but has so
far deflected questions on its existence. Apple hasn not launched a new
line of products in almost three years, apart from a smaller version of
© Thomson Reuters 2013