Jay Z’s 100th problem – Aspiro’s minority shareholders are blocking his bid to buy it

Mar04

by Sindy Cator on March 4, 2015 at 12:47 pm

Earlier this year, Jay Z made a bid to buy Aspiro, the Swedish music streaming company behind ad-free services WiMP and Tidal. But now it looks like the $56 million deal has hit a stumbling block. Business paper Dagens Industri reports (in Swedish) that Aspiro’s minority shareholders, who own 10 percent of the company, are blocking the bid. Aspiro’s board of directors had previously unanimously recommended the deal. Sune Karlsson, chairman of the shareholder’s equity association, Aspiro Power, told the publication: “We will recommend our members say no to the offer. We have accumulated more than 10 percent of the owners, which is enough to block it.” Project…