Responding to rumors from last week, PayPal said Sunday that it was "not pursuing an acquisition of Pinterest at this time."
Bloomberg News reported last week that the payments company had approached Pinterest about a possible acquisition in a deal that could have been worth $45 billion. Pinterest's share price soared on that news, while PayPal's dropped. CNBC later reported that the companies were in late-stage talks.
PayPal's statement, published late Sunday, amounted to just a single sentence denying an impending purchase. In pre-market trading Monday, the share price trend reversed, with PayPal's shares up and Pinterest's down.