Verizon Sells Directory Operations in Canada

Verizon Communications will sell its directory operations in Canada to Bain Capital, a global private investment firm, for US$1.54 billion. The directory operations, SuperPages Canada, is the country’s second largest directories publisher and is the official TELUS directory publisher in Western Canada, where its directories enjoy strong market share positions and loyal customer relationships. Online directory operations are also included in the transaction. An affiliate of Verizon Information Services, SuperPages Canada had revenues of US$293 million in 2003. After the transaction, the company will continue to use the SuperPages brand name. http://www.verizon.com