Tether’s Bid to Buy Italian Soccer Club Juventus Rejected by Majority Shareholder Exor
Exor, the majority shareholder of Juventus, unanimously rejected Tether's all-cash bid to acquire its 65.4% stake in the soccer club.Summary
Stablecoin issuer Tether's attempt to fully acquire Italian soccer club Juventus was rejected by the majority shareholder, Exor, the holding company controlled by the Agnelli family. Exor's board unanimously turned down Tether's binding, all-cash offer to purchase their 65.4% stake, stating they have "no intention of selling any of its shares in Juventus to a third party, including but not restricted to El Salvador-based Tether." Tether, which already holds a 10% stake, had publicly announced the bid, promising an additional $1 billion investment for growth if successful. Exor deemed the bid "unsolicited" and reaffirmed the Agnelli family's century-long commitment and continued support for the club amid its ongoing financial challenges, which have required over 1 billion euros in capital injections in the last seven years.
(Source：CoinDesk)