Shares in Gamma Communications saw a slight increase as investors prepared for a potential bidding war over the United Kingdom and Europe-based business call handler. The FTSE 250 company's stock rose 2.2 percent, or 25 pence, reaching 1181 pence and marking a 29.9 percent gain for the year. This brings the company's valuation to approximately £1.05 billion.
Last week, Gamma Communications accepted a £1 billion takeover offer from British private equity firm Epiris. However, reports from The Times suggest that Dutch private equity rival Waterland is considering an competing bid, which could escalate into a bidding war.
Such a scenario might lead to Gamma Communications becoming another publicly traded company to delist from the stock market. In addition to the takeover developments, Gamma reported a 15 percent increase in first-half profits, reaching £50.1 million.