Gamma Communications (LSE:GAMA) confirmed Providence Equity Partners LLC is among the parties in talks in connection with the company's sale process, per its 7 April announcement, but noted that discussions remain at a preliminary stage.
Last month, 'responding to speculation', the company announced that it was in talks with a number of interested counterparties "with a view to establishing whether such potential offerors might be willing to put forward a proposal that would deliver greater value to shareholders than pursuing a standalone independent strategy."
By 5.00 pm on 10 June, Providence must, according to the Takeover Code, either announce a firm intention to make an offer or state that it does not intend to make an offer, unless the Panel on Takeovers and Mergers agrees to an extension.
