Verizon Plans to Spin Off or Sell Telephone Directory Business
08/07/2006
Verizon Communications announced yesterday that it plans to either sell or spin off its telephone directory business by the end of this year, reflecting its desire to refocus efforts on broadband and wireless services. The telecom giant has filed a registration form with the Securities and Exchange Commission, regarding the possible transaction, which would include its yellow pages business, as well as the SuperPages.com website. If the division is spun off, Verizon would wold create a new publicly traded company called Verizon Directories Disposition, and distribute the stock to all of its current shareholders. Another option would be an outright sale of the business, which would likely fetch around US$13 billion, according to the Wall Street Journal.
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