A reported deal between Google and ICOA hasn't taken place,according to ICOA.

On Monday,a press release posted on PRWeb stated that Google had acquired Wi-Fi operator ICOA for$400 million,but the release was not correct and no such deal exists.

ICOA has never had any discussions with potential buyers,CEO George Strouthopoulos said via email.

"Someone,I guess a stock promoter with a dubious interest,is disseminating wrong,false and misleading info in the PR circles.ICOA will report this to the proper authorities,"Strouthopoulos said.