Telecoms in demand amid UK take-private boom as Waterland joins Gamma pursuit

Gamma Communications is in discussions with Waterland Private Equity Investments over a potential takeover. The UK telecoms services provider confirmed that talks with Waterland were ongoing, but cautioned that there was no certainty an offer would ultimately be made.

The news sent Gamma's shares up about 7.3% to £10.40. According to Private Equity Wire, Gamma had a market capitalisation of approximately £863 million at the previous close. Waterland has until 18 September to announce whether it intends to make a firm offer under UK takeover rules.

Gamma is also in discussions with Epiris, which faces a 2 September deadline to either make a formal offer or withdraw from the process. Other potential bidders, including Oakley Capital and Providence Equity Partners, ended their approaches in June. Giacom, an IT services provider, is acting in concert with Waterland in relation to the potential transaction, which could involve a carve-out of parts of Gamma's business.

Brief written by urgent.news from PE Hub, Private Equity Wire — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.