Summary
- Tether attempted to acquire Juventus, but the attempt failed due to opposition from largest shareholder Exor.
- Tether is already the second-largest shareholder and holds an 11.53%% stake in Juventus.
- Juventus has recently faced financial difficulties and a need for capital raising, drawing attention as an investment opportunity.
Tether (USDT), the issuer of dollar stablecoin, has had its plan to acquire Italian football club Juventus fall through.
Exor said on the 13th (local time) that the board unanimously rejected Tether's proposal to acquire all the Juventus shares it owned. Exor is the major shareholder holding 65.4% of Juventus. Exor explained, "We reaffirm our previous position that we have absolutely no intention of selling Juventus shares to any third party, including Tether, which is headquartered in El Salvador."
Earlier, on the 12th Tether officially announced its intention to acquire Juventus. Tether also announced plans to invest about $1 billion (about 1.5 trillion won) in the club's development if the acquisition were to be completed.
Tether is already the second-largest shareholder of Juventus. Tether invested in Juventus earlier this year and secured an 11.53% stake.
Meanwhile, Juventus has reportedly been experiencing financial difficulties. CoinDesk reported, "Juventus has recently recorded repeated losses and has needed capital increases exceeding €1 billion (about 1.7 trillion won) over the past seven years."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
