LONDON (Alliance News) - Chinese radio transceivers and radio systems maker Hytera Communications Corp on Wednesday confirmed it is holding preliminary talks with UK-listed walkie talkie firm Sepura PLC about a takeover bid.
After the close on Friday, Sepura had disclosed it was holding preliminary talks with Hytera on a potential offer. The news sent Sepura shares up by a quarter.
On Wednesday, Hytera confirmed the talks and reiterated they are at an early stage. Hytera also warned that "significant uncertainties" remain on whether it will make a formal offer, and there are particular concerns on whether the deal would be given regulatory approval.
No financial details on the potential offer were provided, but Hytera said it was likely any offer for Sepura would be made in cash.
Shares in Sepura were down 5.9% to 18.88p on Wednesday morning.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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