Mexican Telecom Enters U.S. YP Market

We recently learned that Telfonos de Mxico (Telmex) has acquired Enlace Spanish Yellow Pages, the largest independent Spanish-language Yellow Pages publisher in the U.S., for an undisclosed price.

Telmex, Mexico's leading telecom and owner of that country’s dominant Yellow Pages publisher, announced earlier this week that it has purchased an 80 percent controlling interest in Enlace, an affiliate of Louisville, Kentucky-based Blue Equity.

Telmex has renamed the entity Seccion Amarilla USA and will re-brand the U.S. directories with the Seccion Amarilla logo and name. Enlace publishes more than 32 Spanish-language directories in more than 18 states and offers online directories in all its markets. Blue Equity, a Louisville, Kentucky-based private equity firm, will retain an equity stake in the directory business, which it will continue to operate in conjunction with Telmex.

Telmex owns Anuncios en Directorios SA in Mexico, where it is the overwhelming market leader. This acquisition may signal a more aggressive roll-up of the U.S. Spanish language directory market by Telmex. The U.S. Spanish-language Yellow Pages market has attracted private equity capital in recent years, with Blue Equity and several rivals seeking to develop a scalable business within this niche.

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