Sometimes rumours are so random that people start to believe them – that was the case today after rumours of Google buying out LG sent LG stocks 14% higher in Korea. This is the first time a rumour like this has ever surfaced, but apparently it was enough for investors to bite – as the rumours goes, Google was allegedly going to buy a 35% stake of LG which equates to about $2.2 billion USD. While it wouldn’t have been a controlling share, Google has already dabbled in ownership of a device manufacturer – Google parted ways with Motorola Mobility last year after a short and bittersweet tenure together – and we can’t say that Google would have been rushing head over heels to get back into it.
So surprising a rumour is it that LG has had to come out and publicly deny these claims, but it can’t be denied that there would be some logic to this kind of deal. Google has worked with LG on multiple occasions to make Nexus handsets, a partnership that is set to go ahead again this year – a closer relationship would only benefit this. On top of this, LG is at the peak of its smartphone game this year with the LG G4, a shoe-in for phone of the year, though LG also has other products such as TVs and home products that Google could be interested in. All the same, this speculation is purely a pipe dream as we’re about as sure as LG that this isn’t going to happen anytime soon.
What do you think about rumours of Google buying out LG? Let us know your thoughts in the comments below.
Source: Korea Herald via Phone Arena
