So far only 10 per cent of Aspiro's investors have said no, but that could be enough to prevent the takeover from happening.
The star now faces three options: opting to acquire a smaller stake, increasing his bid, or walking away from the deal. He is reportedly yet to respond.
While some shareholders are seemingly against the bid, a number of others are still in favour of the deal, most likely due to the resulting increase in share price.
The remaining shareholders and Jay Z have until 11th March to make their final decision.
More after the break
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