German TV maker Loewe AG denied rumors that it has been in talks with Apple about a possible buyout - a report that made German TV maker's shares jump on Monday.

Web blog AppleInsider recently suggested a deal worth $113 million, and that Loewe's board of directors were going to make a decision before May 18th.

Loewe developes TVs aimed at a luxury market, and use a mostly minimalist design that could potentially fit in with Apple aesthetics. Apple is believed to be working on a TV set, possibly to be released within the year.