UK's Gamma Communications says Providence among parties in talks for potential takeover

May 13 (Reuters) - British telecom firm Gamma Communications GAMA.L said on Wednesday that private equity firm Providence Equity Partners is among parties in discussions with the company for a potential takeover.

Here are some details:

• Talks remain at a preliminary stage, with no certainty on whether any offer will be made or on its terms

• Providence has until June 10 to either make a firm offer or walk away under UK takeover rules

• Gamma is not required to name other potential bidders unless they are identified in market speculation

• The telecommunications service firm completed a restructuring in the second half of 2025 aimed at boosting profitability

• Gamma said in March the measures would reduce annual operating expenses by 7 million pounds ($9.28 million) from 2026

• As of Tuesday’s close, Gamma's stock has fallen nearly 32% over the past year, resulting in a market capitalisation of about 810 million pounds

• Providence did not immediately respond to Reuters' request for comment