XOR rejects sale of controlling stake in Juventus; Tether's takeover offer rejected.

According to Odaily, the board of directors of Exor, a majority shareholder of Italian football club Juventus, unanimously decided to reject a takeover offer from stablecoin issuer Tether. In a statement, Exor said it "has no intention of selling its Juventus shares to any third party," which explicitly includes Tether.

Previously, Tether proposed to acquire Exor's 65.4% stake in Juventus in cash, and stated that if the deal went through, it planned to invest an additional $1 billion in the club's development. Tether currently holds approximately 10% of Juventus' shares and has repeatedly expressed its desire to play a more active role in the club's governance.

Exor emphasized that the Agnelli family, as Juventus' stable controlling shareholder for over a century, will continue to support the club's management in executing its established strategies. Following the news of the Tether acquisition, Juventus-related token JUV surged over 32% in the past 24 hours. As of now, Tether has not publicly responded to Exor's decision. (CoinDesk)