Loewe AG (LOE), a German television maker, has had “no contact” with Apple Inc. (AAPL) about being taken over, Chief Executive Officer Oliver Seidl said yesterday at the company’s annual meeting, Handelsblatt reported.

Supervisory board chairman Rainer Hecker, who is also a shareholder, said he doesn’t know of any takeover intentions, the newspaper said.

Loewe shares climbed as much as 10 percent yesterday after AppleInsider reported that Apple offered to purchase the Kronach-based company for 87.3 million euros ($111 million). The stock closed down 0.2 percent at 5.99 euros.

To contact the reporter on this story: Sheenagh Matthews in Frankfurt at smatthews6@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net