Aspiro soars on Tidal launch as star-struck investors miss Jay-Z deal

March 31, 2015 12:25 PM

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Aspiro soars on Tidal launch as star-struck investors miss Jay-Z deal

STOCKHOLM (Reuters) - Shares in music streamer Aspiro, a majority of which was bought earlier this month by hip-hop star Jay-Z, soared on Tuesday to as much as 11 times the price at which remaining shares will be acquired in a compulsory squeeze-out only days away.

In what appeared to reflect investors clamoring too late for a piece of Aspiro's music streaming service Tidal, the shares were up 938 percent at 11 Swedish crowns just before trading was halted.

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