FT to complete sales of PagesJaunes to KKR by end-Oct

10 Oct 2006

France Télécom (FT) hopes to complete the sale of its remaining 54% stake in directories business PagesJaunes Groupe to Kohlberg, Kravis Roberts & Co (KKR) by the end of October. The French telecoms giant expects to raise EUR3.3 billion (USD4.16 billion) from the sale, agreed in July this year. KKR is paying FT EUR22 per share for the equity interest plus a further EUR0.60 per share, or EUR90 million, if it has obtained more than 95% of PagesJaunes’ shares and voting rights when the offer closes.

France, Orange Group