Veltyco confirms it won't be acquiring BTTY

Veltyco updated shareholders on its potential acquisition of Ruleo Alpenland, a company that operates the BTTY branded sportsbook in Germany and Austria, on Monday.

The AIM-traded firm had announced that it entered into an exclusivity period over the possible acquisition on 1 February.

“Following the completion of due diligence by Veltyco and recent developments regarding the German licence program that could impact on BTTY going forward, the Veltyco board has decided to terminate the negotiations with Ruleo and will now not pursue the acquisition of BTTY,” the company said in its short statement on Monday.