The London-listed telecoms group Gamma Communications is lining up the previous boss of IT companies supplier Softcat as its subsequent chairman.
Sky News has learnt that Gamma is in detailed talks with Martin Hellawell about taking on from Richard Last, its long-serving chair.
The hunt for a brand new chairman comes amid persistent bid hypothesis about Gamma, which has a market capitalisation of about £1.1bn.
City sources described Mr Hellawell because the frontrunner for the submit, though they cautioned that an appointment was unlikely earlier than the corporate’s annual assembly this month.
Gamma offers telecoms companies to small and medium-sized enterprise clients, and has constructed a robust money place, though its shares have remained largely flat during the last 12 months.
If confirmed, Mr Hellawell’s appointment is more likely to be thought to be a coup by Gamma shareholders.
He not too long ago confirmed his departure as Softcat chairman, having steered the corporate via its preliminary public providing on the London Stock Exchange.
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Softcat now has a market worth of about £2.7bn.
Mr Hellawell additionally chairs AIM-listed musicMagpie and Raspberry Pi Trading, the privately held know-how firm.
A Gamma spokesman declined to remark.
Source: information.sky.com”