Gamma Communications slumps as Providence abandons pursuit

24th Jun 2026 11:17

(Sharecast News) - Gamma Communications slumped on Wednesday after Providence Equity Partners said it does not plan to make an offer for the telecommunications services firm.

Gamma announced in May that it was in talks with Providence about a possible takeover bid. Two days later, the company said it was also in talks with Epiris and in June, the two interested parties said they had formed a consortium.

However, Providence said on Wednesday that it was no longer part of the consortium.

In a separate statement, Epiris said it was continuing to consider its options regarding a possible offer for Gamma. It added that there can be no certainty that any firm offer will be made, nor as to the terms on which any firm offer might be made.

Under UK takeover rules, Epiris has until 1700 BST on 8 July to either announce a firm offer or walk away.

At 1428 BST, Gamma shares were down 6% at 827p.

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