SPK spark new zealand limited

to sell yellow pages 1.2 billion bucks

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    Friday August 25, 04:07 PM
    New Zealand's Telecom considering sale of Yellow Pages

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    WELLINGTON (AFP) - New Zealand's Telecom Corp is considering selling its Yellow Pages business in a move which analysts say could raise up to 1.2 billion dollars (762 million US).

    The future of the printed and online directory business is expected to be decided by the end of October, Telecom's chief financial officer Marko Bogoievski said.

    "The review will examine potential alternatives including partial or full sale to trade or financial buyers, or a public listing," he said.

    "All options, including retaining the business, will be canvassed."

    New Zealand's dominant telecommunications provider has been under pressure since early May when the government said it intended to force it to open its network to rivals.

    Earlier this month Telecom announced a 435 million New Zealand dollar loss for the June year, dragged down by its troublesome Australian unit AAPT.

 
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