German TV maker Loewe has denied rumors of a $113 million buyout.
AppleInsider reported over the weekend that Apple was in talks to acquire the company.
Sources cited by the site claimed that Apple will pay around $112m and that the company’s board of directors was to make a final decision before this Friday, May 18.
However, a company spokesperson said that the report has “absolutely nothing to it” as Cupertino is not really interested in buying the German company.
Loewe is a company that has been producing television since 1923 and Apple is believed to have been interested in buying them because of their efficiency and accessible costs.
Two of its main shareholders are Sharp, which is said to be supplying panels for Apple’s new TV sets and LaCie.
A recent report in the China Daily stated that Terry Gou, CEO of Foxconn, has confirmed that his factories are already making preparations for Apple’s anticipated television set.