Declining Tether Acquisition Invitation, Juventus Stock Price Soars Nearly 14% on Monday

BlockBeats News, December 15th. According to Reuters, on Saturday, the Italian Agnelli family rejected a more than 1 billion euro (about 1.2 billion USD) acquisition offer from the crypto group Tether for the Italian Serie A football club Juventus, causing Juventus' (JUVE.MI) stock price to soar nearly 14% on Monday.

Prior to this, the Agnelli family's holding company Exor (EXOR.AS) stated that despite Tether's acquisition offer being 21% above Friday's closing price, they have no intention of selling any shares of the club.

Equita analyst Martino De Ambroggi pointed out that based on last Friday's market value, Juventus accounts for about 2% of Exor's net assets. If the sale is completed, Exor's net debt could be reduced by around 650 million to 1.6 billion euros. However, the Juventus club is an asset that has helped Exor raise about 600 million euros in capital increases over the past six years.