Verizon, Bain Near Canada Directory Deal: “NEW YORK (Reuters) – Verizon Communications Inc. is near an agreement to sell its Canadian telephone directory business to private equity firm Bain Capital, the New York Post said on Wednesday.”
Very interesting, and it would be quite lucrative for Verizon. It purchased the Canadian directory publishing business from Telus Corporation three years ago for $810 million and could fetch as much as $1.5 billion today — almost doubling its investment. Not bad at all.
The Canadian business includes the directory publishing operations in Alberta, B.C., Ontario, and Quebec, which equates to 118 community telephone books, and the SuperPages.ca Web site. Its legal name for the business unit is Verizon Information Services Canada, Inc. And, from the looks of it, Verizon will retain its U.S. telephone book publishing business and the SuperPages.com Web site under its own roof.