So much for confidentiality – Most if not all of the Yellow Pages bidders have been identified
by three(!) insiders. At least 9 companies are bidding, apparently, and KKR, CCMP Capital Asia, Pacific Equity Partners, Carlyle, Bain Capital, Providence Equity Partners, CVC Capital and TPG are eight Private Equity firms interested along with Sensis – Telstra’s directory unit.
Goldman Sachs is earning their fees – letting everyone know there is lots of interest will magnify the auction effect and raise the final price. But this is wholesale leaking of (most likely) confidential information, and it seems somewhat ethically challenging. It makes NZ seem like a gossiping backwater. I wonder whether the bidders knew their presence would be announced?
Lance Wiggs 