Britain's Gamma to get higher bid from Dutch private equity firm Waterland, Sunday Times says (updated)
UPDATE 1-Britain's Gamma to get higher bid from Dutch private equity firm Waterland, Sunday Times says Adds responses from Gamma and Epiris in bullet 5
Sept 6 (Reuters) - Dutch private equity firm Waterland plans to make an offer for British telecommunications company Gamma Communications GAMA.L that exceeds the £1.08 billion ($1.38 billion) bid from Epiris, a British private equity firm, the Sunday Times reported.
Here are more details:
Gamma last week agreed to a 1,120 pence per share offer from Epiris.
After a takeover is completed, Waterland would sell two Gamma divisions to UK telecom service company Giacom, the Sunday Times reported. The divisions cater to small- and medium-size enterprises and accounted for nearly 30% of Gamma's revenue last year.
Gamma has perceived the Epiris offer as more straightforward and having lower execution risk than the Waterland deal, the report said.
Waterland was in August in early talks over a potential takeover of Gamma.
Gamma and Epiris declined to comment, while Waterland did not immediately respond to a request for comment outside regular business hours.
($1 = 0.7403 pounds)
(Reporting by Sathvi G Bhat in Bengaluru; Editing by Cynthia Osterman)