Dutch print and publishing giant VNU yesterday sold its entire 75% holding in the Netherlands and Belgian subsidiaries of London-based online business directory Scoot.com.

The two buyers, Scoot itself and Vivendi group of France, between them paid €47 million ($43 million) in cash, although the respective proportions taken-up were unstated.

Explained VNU in a formal statement: "VNU World Directories' Gouden Gids activities (Yellow Pages) and the services provided by Scoot were increasingly converging, partly as a consequence of technological developments, so that a further strategic co-operation was no longer thought to be useful."

News Source: CampaignLive (UK)