UK's Gamma Communications in talks with PE firm Waterland over possible takeover
UK's Gamma Communications in talks with PE firm Waterland over possible takeover Aug 21 (Reuters) - British telecom services provider Gamma Communications GAMA.L on Friday said it was in early talks with the Netherlands-based firm Waterland Private Equity Investments over a possible takeover.
Gamma's shares were up about 7.3% at £10.40 apiece, the highest since September 2025, at 1021 GMT.
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Gamma has a market capitalisation of about £863 million ($1.18 billion) as of last close. Waterland must announce its firm intention to make an offer by September 18.
Gamma is also in talks with private equity firm Epiris, which has a September 2 deadline to make an offer or walk away.
Oakley Capital and Providence Equity Partners withdrew from their pursuit of Gamma in June.
The telecom services firm said talks with other potential bidders were ongoing.
British companies are drawing interest from private equity firms as depressed stock market valuations make them attractive takeover targets.
Sky News reported earlier on Friday Waterland was considering a bid for Gamma in a deal that would also see IT services provider Giacom acquire part of its operations.
Gamma said Giacom is acting in concert with Waterland relating to the possible deal in which Giacom would buy certain business units of Gamma.
($1 = £0.7321)
(Reporting by Neeshita Beura in Bengaluru; Editing by Harikrishnan Nair)