Fergie's Tech Blog

Verizon Prepares for Spinoff of Directories Business

A Reuters newswire article, via Yahoo! News, reports that:

Verizon Communications Inc. on Friday said it planned to dispose of its phone directories business by the end of the year, reflecting its increasing focus on Internet and wireless communications.

Verizon said it registered a possible spinoff of the directories business, which reported $3.45 billion in revenue last year, with the U.S. Securities and Exchange Commission on Friday.

But the company said it had not yet made a decision on whether to spin off the business and that a sale was also possible.

posted by Fergie @ 7/07/2006 07:21:00 AM