Waterland emerges as new suitor for Gamma Communications in reopened takeover battle

Gamma confirmed on Friday that the Netherlands-based buyout firm is among the parties weighing a possible offer for its entire issued share capital.

Under the proposal, cloud and communications distributor Giacom is acting in concert with Waterland and would acquire certain Gamma divisions, pointing to a break-up of the company.

The discussions are at a preliminary stage, and Gamma said other potential bidders remain in the frame. Under the UK Takeover Code, Waterland has until 5pm on 18 September 2026 to announce a firm intention to make an offer or step away, the “put up or shut up” deadline that now shapes the process.