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Swatch Denies It’s Cooperating With Apple on Smartwatch

Swatch Group AG, the world’s largest watchmaker, said it’s not working with Apple Inc. on a smartwatch, damping speculation that boosted the shares as much as 4.2 percent, the most in five months.

VentureBeat yesterday reported that Apple and Swatch are working together to release a line of watches in various brands, styles and prices, citing a person familiar with the matter it didn’t name. Swatch shares pared gains after the denial.