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Exor has rejected Tether's acquisition offer for the football club Juventus.
ChainCatcher reports that, according to CoinDesk, the plans of stablecoin issuer Tether to acquire Italian football club Juventus have faced setbacks. Major shareholder Exor has unanimously rejected Tether’s all-cash takeover bid, which aimed to purchase the 65.4% stake held by Exor. In a press release published on Saturday, Exor stated, “We have no intention to include but not limited to third parties such as Tether, based in El Salvador, selling any of their shares in Juventus.” Exor is a holding company controlled by the Italian Agnelli family, whose business empire includes Fiat Automobiles. Tether previously announced that if the acquisition succeeded, it planned to invest an additional $1 billion in the club’s development. Currently, Tether owns 11.53% of Juventus, making it the second-largest shareholder after Exor.