British Telecommunications PLC
25 June 2001
June 25, 2001
BT ANNOUNCES CLOSURE OF THE SALE OF YELL
BT today announced the closure of the sale of Yell Group ('Yell'), its
international directories business, to a newly formed company jointly owned by
Apax Partners and Hicks, Muse, Tate & Furst following Hart Scott Rodino
clearance in the US.
The consideration comprises £2.04 billion in cash and £100 million in
interest bearing vendor loan notes and will be used by BT to reduce debt.
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Yell:
Richard Duggleby +44 (0) 118 950 6206
Jon Salmon +44 (0) 118 950 6656
Main press office +44 (0) 118 950 6999
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