FT announces sale of 54% stake in PagesJaunes to KKR

16 Oct 2006

France Télécom (FT) has signed the final agreement confirming the sale of its 54% stake in directories business PagesJaunes Groupe to Médiannuaire, an affiliate of Kohlberg Kravis Roberts & Co (KKR). The transaction saw FT selling the stock for EUR3.312 billion, or EUR22 per share, with an additional cash consideration of EUR90 million (EUR0.6 per share) payable to KKR in the event that it holds more than 95% of the outstanding shares and voting rights of PagesJaunes.

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