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| Reuters |
Shares in Juventus (JUVE.MI) rose as much as 4.8% on Monday on takeover speculation, despite parent company Exor (EXOR.AS) saying it had no plans to put the soccer club up for sale, denying a report in newspaper Il Giornale.
Shares in Italy's most successful Serie A club were up 3.2% at 1310 GMT, with trading volumes far exceeding their 90-day average. The was stock outperforming a 0.9% rise on the Milan bourse (.FTITLMS) as a whole.
A spokesperson for Exor said in a statement that Il Giornale's report was "groundless", after the newspaper said the holding company considered Juventus's recent financial results were "no longer sustainable" and it had been embarrassed by the soccer club's ongoing judicial problems.
Exor, the holding company of the Agnelli family, owns around 64% of the shares and 78% of the voting rights at Juventus.
