Apple rumours bear sweet fruit for Loewe

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14 May, 2012 Updated Mon 14 May 2012 16:24 CEST
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Rumours that Apple was preparing to buy a German television manufacturer pushed its share price up by more than 20 percent on Monday – even though the only thing the company said was that the idea was mistaken.

Internet blog “Apple Insider” wrote that the Americans wanted to pay around €88 million for the luxury television manufacturer Loewe, the Handelsblatt said on Monday.

And although the first and only thing that Loewe said about the idea was that there was nothing in it, share price shot up by around 22 percent to reach €5.55, at one point even reaching €6.25.

Loewe televisions have long been compatible with Apple products, the paper wrote, noting that iPads and iPhones can be used as remote controls for their televisions, while German Apple stores sell special Loewe loudspeakers.

And although the rumours served Loewe well in giving its share price a boost, it was keen to deny them. A spokesman said, “There absolutely nothing in it.”

Thomas Maul, an analyst for the DZ Bank would agree, the Handelsblatt said. Although in principle Loewe might be interesting for Apple, as it allegedly wants to develop its own televisions, the German firm is too small and too strongly focused on the European market, he told the paper.

The Local/hc

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2012/05/14 16:24

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