Some numbers from the potential Yellow Pages sale emerge, with expected EBITDA of $160m this year. Yellow pages prices have been cranked up over the last few years, and with online being what it is I don’t see huge upside for the printed product.
The upside is all online, and although it is essentially an irresponsible act, I believe that Telecom is right to divest.
The reason is simple – Telecom managers have proven time and time again that they are not able to make a success of commerce online, and so by selling this asset they will capture some of the value of someone else doing this for them.
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