Yell in Final Running for TPI

Yell and two private equity consortia are reported to be the final round bidders on Spain’s Telefnica Publicidad e Informacin.

This excerpt is from the Financial Times.

UK telephone directory group Yell and two consortia comprising four private equity firms (KKR, Carlyle, Apax and Cinven) are to participate in the final auction for the 59.9 per cent of Spanish yellow pages operator TPI owned by leading Spanish telecommunications group Telefonica. Candidates will have access to full information on TPI this and next week, in order that they may be able to submit binding offers on April 21. After rising 27 per cent since the start of 2006, shares in TPI have fallen 5.7 per cent in the last three sessions to 9.09 euros each.