At Piazza Affari, an atmosphere of genuine euphoria surrounds the Bianconeri stock, but anyone familiar with the markets knows that behind the vertical charts lies a game far larger than football. Juventus is once again at the center of a complex financial match where speculation meets geopolitics. After the recent takeover attempt by Tether—rejected with losses for the bidder—rumors are now pointing the compass directly toward the Middle East. The shares are increasing in value due to widespread interest, even though the free float on the stock exchange is secondary.

Saudi Arabia has set its sights on the Old Lady, ready to place a monster offer on the table. Yet, from the Savoyard city of Turin, John Elkann’s response seems to be a broken record, identical to the one given to Ardoino: a dry “no.” The market, as we know, always anticipates news—or at least hopes. The Juventus stock has recorded remarkable performance: Growth: +28% in just seven days.

Whispers in the trading rooms suggest that Saudi emissaries have proposed a figure close to €2 billion to Exor. This is not a random number: analysts consider it the “psychological threshold,” or rather the minimum auction floor, to even sit at the table and seriously discuss a majority stake. It is an offer that would make many owners tremble, yet for now, it clashes with the Agnelli-Elkann family’s official will to maintain control. Despite the pharaonic valuation, a farewell is not in Exor’s declared plans.

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