Veltyco acquisition of RULEO Alpenland delayed

Veltyco updated the market on the potential acquisition of RULEO Alpenland on Friday, saying that while due diligence work and formal documentation was at an advanced stage, it was not yet completed.

The AIM-traded firm had initially announced its plan to purchase RULEO Alpenland - a company that operates a sportsbook under the brand btty.com - on 1 February.

“Accordingly, completion of the acquisition has been delayed but is expected to complete shortly,” the Veltyco board said of the delay on Friday.

“Although the exclusivity period expired on 15 March, both parties are fully committed to complete the transaction shortly.”