Gamma Communications in early takeover talks with PE firm Waterland

(Sharecast News) - Telecoms provider Gamma Communications confirmed on Friday that it is in preliminary talks with private equity firm Waterland about a possible takeover that would involve telecoms services firm Giacom buying some of its business divisions. In a statement responding to media speculation, it said: "Discussions between the company and other potential offerors remain ongoing."

Gamma added that there can be no certainty that any offer will be made nor as to the terms of any offer, if made.

Under UK takeover rules, Waterland has until 1700 BST on 18 September to either announce a firm offer or walk away.

Gamma remains in takeover talks with private equity firm Epiris, which has been given a 2 September 'put up or shut up' deadline by the Takeover Panel.

At 1230 BST, Gamma shares were 8.1% higher at 1,048.17p.

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