Yellow Page Company to Cut Debt Mountain
Yell, the Yellow Pages company, just announced that it has won the agreement of most of its major lenders for a £500 million sale of shares to help cut its debt mountain.
The directories group has been hurt by a slump in advertising reveneues and owes about £3.8 billion following acquisitions in Spain and the US. It warned trading was unlikely to improve for the rest of the financial year.
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