Afterpay Ltd will delay a shareholder meeting to approve a $29 billion buyout of Australian ‘buy now, pay later’ leader Square Inc, as the Jack Dorsey-led payments company awaits regulatory approval in Spain Is.

The investor meeting was scheduled for December 6, but Afterpay said it was likely to happen next year as Square,
which has rebranded itself to Block Inc.The approval from the Bank of Spain is likely only in mid-January.

Delay is not likely to affect completion
Australia’s biggest deal, which is scheduled for the first quarter of 2022, Afterpay said.

“We believe that the risk of trading closures is minimal,” Chami Ratnapal, analyst at RBC Capital Markets, said in a brief client note.

During this, Twitter Ink cofounder Dorsey hopes to focus on Square
after landing as chief executive of the social media platform as it seeks to expand beyond its payments business and into new technologies such as blockchain.

stay high Technology And Startup News that matters. to subscribe Get the latest and must-read tech news in our daily newsletter, delivered straight to your inbox.