MTS sells directories for $281 million

WINNIPEG – The strategizing continues at MTS Allstream. The company announced today it has agreed to sell its directories business to Yellow Pages Group Co. for $281 million, of which $275 million will be payable in cash on closing. MTS’s directory business had total revenue and EBITDA of $42 million (including inter-company services) and $23 million respectively. “This transaction is a clear sign of our commitment to create and deliver long term value for our shareholders,” said Pierre Blouin, CEO. “Our directory business is performing strongly, but as a publishing enterprise it is outside the scope of our core telecommunications...