XO Communications - News in Brief - McLeodUSA selling directories business - Brief Article

CommunicationsWeek International, Feb 4, 2002

McLeodUSA, an operator based in Cedar Rapids, Iowa, is selling its directories business for $600 million to Yell, the yellow-pages group sold by BT to private equity firm Hicks, Muse, Tate and Furst, and Apax Partners for $2.84 billion. During a 2001 restructuring, McLeod had planned to sell the business for $535 million to buy-out firm Forstmann Little, which invested $800 million in troubled broadband concern XO Communications in a joint venture with Telmex.