PayPal Holdings Ltd.
Negotiations to buy the social media platform Pinterest Ltd.,
According to people familiar with the matter, this is a step towards taking the big payments business in a new direction.
People warned that talks are in the early stages and there may be no compromise. If so, then the market value of Pinterest would exceed $35 billion, which would be huge.
News of the deal, first reported by Bloomberg, squeezed PayPal’s shares, which fell nearly 6% on Wednesday afternoon. Pinterest’s share was up about 11%.
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