UK takeover panel extends deadline for Epiris takeover of Gamma Communications

July 8 (Reuters) - Britain's Gamma Communications said on Wednesday the UK takeover panel has once again extended the deadline for Epiris to make a firm offer for the telecom company to August 5.

Discussions between Gamma and private-equity firm Epiris, as well as other potential bidders are ongoing, the British company said in a statement.

Gamma shares were up 7.5% at 891.5 pence on the news.

Here are some more details:

• Epiris was initially due to make a firm offer or walk away by June 12, but the deadline was extended to July 8.

• Epiris had said in June it would continue to explore a possible offer for Gamma on its own after consortium partner Providence Equity Partners exited the takeover process.

• Gamma in 2025 completed its restructuring programme, which expects to cut annual operating expenses by 7 million pounds from 2026. The company has seen its shares fall nearly 26% over the past year, as of the last close.

• Gamma is among a growing number of British companies drawing interest from private-equity firms as depressed stock valuations make them attractive takeover targets.

• Another potential suitor, private-equity firm Oakley Capital, withdrew from the pursuit of Gamma in June.

• Gamma's core markets are the UK and Germany, with additional presence in Spain and the Benelux region.

(Reporting by Ankita Bora in Bengaluru; Editing by Rashmi Aich and Shilpi Majumdar)