PE firm Waterland ends alliance with Giacom in Gamma takeover pursuit
PE firm Waterland ends alliance with Giacom in Gamma takeover pursuit Sept 11 (Reuters) - Dutch private equity firm Waterland said on Friday it is no longer in concert with UK-based Giacom to make an offer for British telecom company Gamma Communications GAMA.L.
Here are some more details:
Gamma agreed to a 1,120 pence per share offer from private equity firm Epiris earlier this month, capping months of takeover talks.
Waterland said it is continuing to consider its interest in Gamma, but that there can be no certainty of a firm offer.
Gamma's shares were down 2.8% at 1141p at 1443 GMT.
The telecommunications company has attracted interest from several private equity firms this year, including Oakley Capital and Providence Equity Partners, which withdrew their bids in June.
In August, Gamma said Giacom, a telecom service company, is acting in concert with Waterland relating to a possible deal in which Giacom would buy certain business units of Gamma.
The Sunday Times reported on Monday that Waterland could make an offer for Gamma that could exceed Epiris' £1.08 billion ($1.46 billion) bid.
Giacom could not be reached immediately for comment.
($1 = 0.7392 pounds)
(Reporting by Unnamalai L in Bengaluru; Editing by Shreya Biswas)