ATT Plans to Sell Yellow Pages Business
By: Leon Castles
on Thursday, April 12, 2012
Business is about making the right decisions at the right time and AT&T has been going through lot of problems at the moment. The company has now decided that they are going to sell off their Yellow Pages business and that will provide them with better earnings in the future. The company is already going through some tough financial situation and therefore the company has to think about extraordinary steps that can earn them more profits in the future. The Dallas based company has now decided that they will sell off 53% of their Yellow Pages business to another private equity firm that will handle the operations on their own.
The company said that they will sell of their Yellow Pages operation to Cerberus Capital Management LLC which will pay AT&T with $750 million in cash and also take on another $200 million in debt. The information about this deal was provided first on Reuters. The telecommunications giant said that they do not want to have bad effects on the 2012 earnings that they have and therefore they went ahead with this decision. The company also said that this will provide them with better finance that they will need in the near future to steer the company in the right direction.