Yell only bidder for Spanish directories
Published April 16th, 2006
Yell Group PLC, publisher of Britain’s Yellow Pages, is the sole remaining bidder for TPI, the Spanish directories group that is being sold by its majority owner Telefonica SA, the Financial Times reported Saturday.
Telefonica’s sale of its 59.9 pct stake is expected to trigger an offer to all shareholders in Madrid-listed Telefonica Publicidad e Informacion SA at the same price offered to Telefonica.
US buy-out groups Carlyle and Kohlberg Kravis Roberts dropped out of the auction last week, while interest from World Directories of the Netherlands — owned by private equity groups Apax and Cinven — is thought to have cooled, the FT said.
