Tether’s Bid to Buy Italian Soccer Club Juventus Rejected by Majority Shareholder Exor

Group 1: Tether's Bid and Exor's Response - Tether's bid to acquire Exor's 65.4% stake in Juventus has been unanimously rejected by Exor's board, which stated it has "no intention of selling any of its shares" to Tether [1] - Tether expressed admiration for Juventus and planned to invest an additional $1 billion in the club's growth if the bid was accepted [1] - Exor characterized Tether's bid as "unsolicited" and reaffirmed the Agnelli family's commitment to the club's success [2][3] Group 2: Juventus' Financial Situation - Juventus has been facing ongoing financial challenges, posting recurring losses and requiring over 1 billion euros ($1.17 billion) in capital injections over the past seven years [2] - Tether currently holds an 11.53% stake in Juventus, making it the second-largest shareholder behind Exor [5] Group 3: Market Reaction - Following Tether's announcement of its bid, the price of the Juventus Fan Token (JUV) surged more than 32% within a 24-hour period [4] - Juventus shares experienced a decline of 0.9% in the trading session prior to Exor's announcement, with the total market capitalization of the club around $988 million [5]