Britain's Gamma to get higher bid from Dutch private equity firm Waterland, Sunday Times says

Sept 6 (Reuters) - Dutch private equity firm Waterland plans to make an offer for British telecommunications company Gamma Communications that exceeds the £1.08 billion ($1.38 billion) bid from Epiris, a British private equity firm, the Sunday Times reported. 

Here are more details:

• Gamma last week agreed to a 1,120 pence per share offer from Epiris.

• After a takeover is completed, Waterland would sell two Gamma divisions to UK telecom service company Giacom, the Sunday Times reported. The divisions cater to small- and medium-size enterprises and accounted for nearly 30% of Gamma's revenue last year.

• Gamma has perceived the Epiris offer as more straightforward and having lower execution risk than the Waterland deal, the report said.

• Waterland was in August in early talks over a potential takeover of Gamma.

• Gamma and Epiris declined to comment, while Waterland did not immediately respond to a request for comment outside regular business hours.

($1 = 0.7403 pounds)

(Reporting by Sathvi G Bhat in Bengaluru; Editing by Cynthia Osterman)