Business Services Industry
Sale of Telecom Italia's Yellow Pages Will Help Merger.
Knight Ridder/Tribune Business News, April, 2003
By Tony Glover, Sunday Business, London Knight Ridder/Tribune Business News
Apr. 6--The bidding for Italy's yellow pages, the telephone directories business of Seat Pagine Gialle, has heated up rapidly since the proposed sale was announced last week.
A source at Telecom Italia, which owns 56 percent of Seat Pagine Gialle, told The Business that the bidding already values the business at close to euro6 billion ($6.48 billion UKpound 4.14 billion). This is significantly higher than the euro4.5 billion figure the market was originally anticipating.
Telecom Italia says it is in talks with a number of prospective bidders but refuses to name the organisations involved. However, based on the sale of British Telecom's yellow pages business,...
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