British Telecom has announced an autumn IPO for Yell, its international directories and e-commerce business. The flotation date has been set to coincide with the expected publication of a report into the UK directories market by Britain's Office of Fair Trading.
The announcement triggered speculation about other possible BT demergers, including its business communications division Ignite, and internet venture BTopenworld.
The news accompanied a sharp fall in BT’s profits for the quarter to June 30 – down 27% to £561 million (£772m year-on-year).
News source: The Times (London)