With a net worth of $ 520 million, Jay Z may have the advantage in the world of music. But commercial ventures, could still suffer strange hard hit.
In recent months, Jay Z has shown increasing interest in purchasing a streaming service Aspiro Swedish music as a way to take on the likes of Apple and Spotify, which are currently dominating the world of music streaming.
In January, the Pantera Project Bidco - a company owned by Jay Z - submitted a bid of $ 56 million for the Swedish company. However, it now appears that more than 10 percent of the minority shareholders of Aspiro intends to reject their offer.
The corporation has supported the proposal. However, the president of the Equity Association in Aspiro Power, Sune Karlsson said Dagens Industri, a Swedish financial newspaper that "we will recommend our members to say no to the offer. We have accumulated more than 10 percent of owners, which is enough to block it. "
In February, a statement released by Aspiro share power, an association of minority shareholders, said the offer does not represent the true business value streaming service.
If more than 10 percent of the shareholders reject the offer, the offer of Jay Z cannot completely go through and instead must settle for a smaller slice in the business.
In January, the Pantera Project Bidco - a company owned by Jay Z - submitted a bid of $ 56 million for the Swedish company. However, it now appears that more than 10 percent of the minority shareholders of Aspiro intends to reject their offer.
The corporation has supported the proposal. However, the president of the Equity Association in Aspiro Power, Sune Karlsson said Dagens Industri, a Swedish financial newspaper that "we will recommend our members to say no to the offer. We have accumulated more than 10 percent of owners, which is enough to block it. "
In February, a statement released by Aspiro share power, an association of minority shareholders, said the offer does not represent the true business value streaming service.
If more than 10 percent of the shareholders reject the offer, the offer of Jay Z cannot completely go through and instead must settle for a smaller slice in the business.
