(Reuters) — Rupert Murdoch’s News Corp said rumors about the company’s interest in buying microblogging site Twitter Inc or building a stake in it were untrue.
Twitter’s shares, which rose as much as 14 percent on Wednesday, pared some gains and closed up 4.1 percent at $17.38.
The stock rose from a record low after unconfirmed chatter about News Corp’s interest in Twitter circulated on Wednesday. The rumors intensified after a CNBC segment, tech website Re/code said.
The social media site was evaluated as a takeover target because of the company’s shrinking stock price, Re/code said.
Read the rest of the story at Reuters.