FPT denies Apple acquisition rumors

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An FPT’s F.Studio store, styled after Apple outlets in developed markets, in Hanoi. Photo courtesy of FPT An FPT’s F.Studio store, styled after Apple outlets in developed markets, in Hanoi. Photo courtesy of FPT

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Technology firm FPT Corp. denies reports that it was being acquired by Apple, deflating speculation that boosted its shares to a two-month high on Friday.
“The two sides have never discussed Apple’s acquisition of FPT,” Tran The Phuong, FPT chief financial officer, was quoted by The Saigon Times as saying.
The financial website TechInsider (techinsider.net) on Thursday reported without quoting sources about the buyout, which later made big headlines on many Vietnamese websites.
FPT shares jumped 6.28 percent to close at VND52,500 ($2.48), the highest since May 6, with volume hitting a five-year high of 3.26 million shares, Reuters data showed.
FPT, Vietnam’s biggest listed information and communication technology company, last year qualified as the country’s “premium” reseller, allowing it to sell Apple’s range of products, from iPods to iPhones, CEO Bui Quang Ngoc said in an interview with Bloomberg recently.
“FPT is the long-term partner of Apple in Vietnam,” Phuong was quoted as saying.

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