After Sprint Nextel and Qwest having already departed from the directory-business, it is now Verizon Communications' turn to evaluate selling the $3.6 billion operating revenues (2004) Verizon Information Services (VIS).
Taking into account that Verizon, second largest US tepephone company, sold the Canadian-based directory service in 2003 for just $1.5 billion, it seems very possible that Verizon Information Services will follow that trend.
Verizon Chairman Ivan Seidenberg:
"Given the attractive opportunities developing in the local search and advertising markets for VIS, we believe a divestiture would provide VIS with more flexibility."
"VIS could then more easily seek partnerships, meet customer requirements and create its own growth opportunities."
Britain's Yell Group Plc. agreed to buy U.S. directory publisher TransWestern for $1.6 billion, and a consortium led by Australia's Macquarie Capital Alliance Group bought YBR Group, also known as Yellow Brick Road, for $2.3 billion.
Bear, Stearns & Co. and JPMorgan Securities Inc. are advising Verizon.
Verizon Communications Inc., a Dow 30 company, is a leader in delivering broadband and other communication innovations to wireline and wireless customers. Verizon operates America's most reliable wireless network, serving 49.3 million customers nationwide, and one of the nation's premier wireline networks, serving home, business and wholesale customers in 28 states.
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