Italian Soccer Club Juventus Rejects Tether's Acquisition Offer

The bid by Tether, a leading stablecoin issuer, to acquire Italian soccer club Juventus has been rejected by Exor, the majority shareholder. Exor's board of directors unanimously turned down the offer, stating that it has no intention of selling its shares to Tether or any other third party. Tether had announced its bid to purchase Exor's 65.4% stake in an all-cash deal, citing its admiration for the club and plans to invest an additional $1 billion in its growth. However, Exor has reaffirmed its commitment to the club's success, describing Tether's bid as 'unsolicited'. Juventus has been facing financial difficulties, with recurring losses and requiring repeated capital injections. The rejection of Tether's bid comes after the stablecoin issuer had already acquired a 10% stake in the club and had expressed its desire to take a more active role. The news has not yet had a significant impact on the price of the token linked to the football club, JUV.