(Sharecast News) - Oakley Capital said on Friday that it does not plan to make a takeover offer for Gamma Communications.
Gamma announced on 15 May that it was in talks with a consortium comprising Oakley and IT service provider Giacom.

"It has since been clarified to Gamma that Oakley was acting as the potential offeror and that Giacom was in preliminary discussions with Oakley regarding a possible purchase of some of the assets of Gamma (but was not acting in a consortium or acting in concert with Oakley)," Oakley said in a statement on Friday.

"Oakley confirms that it is not intending to make an offer for Gamma."

At 1627 BST, Gamma shares were down 3% at 927.83p.

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