PayPal Says Not Pursuing Acquisition Of Pinterest At This Time

Payments firm PayPal Holdings Inc PYPL is not pursuing an acquisition of visual search and scrapbooking platform Pinterest PINS at this time.
Earlier, there were market rumors that PayPal has recently discussed a possible price of around $70 a share, valuing Pinterest at $45 billion.
The Pinterest deal would have given PayPal, which paid $4 billion last year for couponing and price-comparison app Honey Science, even more data about the products consumers are buying and the ability to advertise or offer discounts based on that data potentially, Bloomberg reports.
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Price Action: PYPL shares traded higher by 4.45% at $251.04, while PINS is down 13.4% at $50.26 in the premarket session on the last check Monday.