Dave; so much for the SONY/AAPL rumor: Sony flatly denies chance of Apple bid
TOKYO, Jan 5 (Reuters) - Sony Corp Chief Executive Nobuyuki Idei said the Japanese electronics giant has no plan to bid for U.S.-based Apple Computer Inc, knocking down market speculation of an alliance.
Speculation over such a deal circulated in the foreign exchange market on Friday, reviving market talk of an alliance that some analysts see as a natural fit for a struggling Apple.
But Idei appeared to firmly deny the possibility of a bid. Asked by Reuters if Sony would seriously consider a bid if it receives an offer from Apple, Idei said ``No'' and did not elaborate further.
Commenting on the speculation in the market, Idei said: ``There is no such fact.''
A Sony spokesman earlier declined to comment on the rumour, which was already losing steam in Tokyo, saying ``as corporate policy, we do not comment on speculation''.
Such talk has appeared on-and-off in recent years as Apple struggles.
Idei laughed this off, saying ``A similar rumour comes up every two or three years''.
Industry sources suspect the rumour had been revived after Apple made a devastating earnings warning last quarter and precipitated a sharp fall in its stock.
Shares in Sony rose 370 yen or 4.5 percent on Friday to 8,600 yen amid an overall firm Tokyo stock market as the yen's weakness prompted investors to snap up major exporters.
Late last month, Sony's shares fell to 7,510 yen, their lowest in nearly 14 months, dragged down by a downdraft in global technology stocks after a drop in the Nasdaq composite index.
Before a two-for-one stock split on March 31, Idei made a rare warning in January that the company's share price was overvalued and that a more appropriate price would be 20,000 yen, or 10,000 yen on a split-adjusted basis.
But this time, Idei refused to comment on the company's stock price. |
