Minority owners of Norwegian music streaming service Wimp announced Wednesday they had blocked rap mogul Jay Z's $56-million bid and said the ball was now in the rap star's court. Over 10 percent of the minority owners of Wimp's parent company Aspiro had rejected the bid, meaning Jay Z has to amend his original offer for a 90-percent stake in the company, the Swedish Shareholders' Association said in a statement. The minority owners -- who believe Jay Z's bid undervalued the company's future potential -- had yet to hear back from from the platinum-selling artist. Jay Z used his controlling stake in Project Panther Bidco to launch a 464-million-kronor ($56-million, 49-million-euro) bid for Aspiro that was accepted early on by majority owner Schibsted, which controls 76 percent of the Swedish-listed company.
via Entertainment News Headlines — Yahoo! News
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