BREAKING: Tether's Bid to Buy Juventus REJECTED by Agnelli Family đ«âœ
Stablecoin giant Tether's ambitious plan for a full takeover of Italian football powerhouse Juventus has been shut down.
Majority shareholder Exor (controlled by the Agnelli family) unanimously rejected Tether's binding, all-cash offer for its 65.4% stake. In a firm statement, Exor declared it has "no intention of selling" any shares to Tether or any third party.
Key Points:
đčTether publicly announced its bid yesterday, expressing "deep admiration" for Juventus and pledging an additional $1B investment for growth.
đčDespite already being the second-largest shareholder (~11.5%), Tether's push for majority control has been blocked.
đčJuventus has faced significant financial struggles, with over âŹ1B in losses over the past seven years.
đčExor called the bid "unsolicited" and reaffirmed its century-long commitment to the club.
Market Reaction:
đJuventus Fan Token ($JUV) surged +32% in 24hrs after Tether's bid was revealed. Price reaction to the rejection is pending.
đJuventus shares traded slightly down on Friday.
Tether has not yet commented on the rejection.
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