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PE Firm Eyes 1 Billion Pound Telecom Break-Up
15 May
Summary
- Oakley Capital explores a 1 billion pound takeover of Gamma Communications.
- A potential deal involves breaking up Gamma Communications.
- Giacom, founded by Matthew Riley, could acquire Gamma's UK reselling arm.
Oakley Capital, a private equity firm, is reportedly in discussions for a potential 1 billion pound ($1.34 billion) takeover of Gamma Communications. The proposed acquisition includes a strategic break-up of the British telecom firm.
One scenario being considered involves Oakley Capital purchasing Gamma Communications and subsequently divesting its UK telecom reselling business to Giacom. Giacom is an IT service provider founded by veteran telecoms figure Matthew Riley. Gamma Communications, Oakley Capital, and Giacom have not responded to requests for comment regarding these developing discussions.
Reuters has not yet been able to independently verify the accuracy of this report. The financial implications of such a deal are significant, potentially valuing Gamma Communications at around 1 billion pounds.
