LG-Suntech acquisition rumors denied

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A story by MoneyToday is said to have reported that LG had considered acquiring Suntech, and that "a 1.06 trillion won rights offering may be for funding an acquisition".

However, according to Bloomberg, a spokesman for LG has refuted the rumors. When questioned, a spokesperson for Suntech additionally told pv magazine that the rumor has already been denied and that business is running as usual.

Industry analysts at Jeffries reacted by saying that media reports of possible negotiations between the two could "increase speculative buying" in the solar sector.