Chosun Ilbo, a major Korean newspaper, is reporting that LG wanted the device to be sold as the Nexus G as a reference to LG's line of devices. LG of course loves that G and has used it for the Optimus G, the G2, the G Flex, and the G Pad.A new report is saying that LG wanted to get a bit of branding with the new Nexus 5.
Google obviously nixed the idea, but it would have made sense. Not only would the G have served as a reference to LG's devices, but also to Google itself. There's a fair chance that the G in the name Moto G is a reference to Google itself, so maybe that's why Google didn't want to have the Nexus named that way.