Cryptocurrency giant Tether has made a €1.1bn all-cash offer to acquire Italian football club Juventus, in a bid underscoring the burgeoning ambitions and newfound riches of the stablecoin provider.
El Salvador-based Tether said it was proposing to pay €2.66 per share for the 65.4 per cent stake in the club held by Exor, the holding company of the billionaire Agnelli family which has controlled the club since 1923.
Pending regulatory approval, Tether said it would then move to buy the remainder of shares at the offer price.
Juventus shares were worth €2.19 a piece at market close on Friday with a market…
