Telecom New Zealand to sell Yellow Pages

29 August 2006

CHRISTCHURCH: New Zealand's largest publicly quoted company, Telecom New Zealand, has announced plans to sell its Yellow Pages directory business, valued by some analysts at around NZ$1.5 billion ($953.7m; €747.0m; £505.03m).

The disposal might not be via an outright sale. An IPO is also under consideration, as is a partial selloff. The cash raised will likely be reinvested in web or mobile phone operations; alternatively to buy back some of TNZ's shares.

Data sourced from Financial Times Online; additional content by WARC staff