Tron Took BitTorrent Deal Away From Neo, Overtaking Competitor

By Yuri Molchan

Tue, 4/09/2018 - 16:40

Tron didn't even bid the highest amount to buy BitTorrent. NGC offered a lot more than Justin Sun. They offered $50 mln more than Tron. Sun pulled the deal off

Tron Took BitTorrent Deal Away From Neo, Overtaking Competitor

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Coindesk reports that Tron did not even bid the highest amount to buy BitTorrent. Neo Global Capital (NGC) offered a lot more than Justin Sun. They, reportedly, offered $50 mln more than Tron, which purchased BitTorrent for $120 mln. Curiously enough, Sun pulled the deal off.

Originally, Sun was not going to buy all of the company, he just wanted to buy a controlling stake. However, later the major investor of BitTorrent, in control of the 90 percent of shares, insisted that Sun buy the rest of the stake as well.