LG Electronics shares surge on speculation of Google stake buy

[SEOUL] Shares of South Korea's LG Electronics Inc surged in morning trade on Wednesday, rising as much as 14.5 per cent at one point on market speculation that Google Inc will acquire a stake in the consumer electronics maker.

LG Electronics spokesman Ken Hong said the market talk was"complete speculation" and that the company does not comment on rumours.

The company's shares were trading 6 per cent higher as of 0254 GMT, compared with a 1 per cent decline for the broader market.

REUTERS