VNU is considering a sale and other options for its telephone directories unit to focus on its marketing, media measurement and business information activities, the Dutch publisher said today.
The company also plans to use at least half of the proceeds to repay debt, it said.
VNU World Directories, employing some 2,200 people, produces telephone and Yellow Pages directories in print, online and mobile formats.
It had 2003 sales of €492 million and an operating income of €211 million. VNU has retained Credit Suisse First Boston and Goldman Sachs to help it explore strategic alternatives.
"The Directories group has played an important role in the growth and success of VNU," said VNU Chairman and Chief Executive Officer Rob van den Bergh. "We now believe it is time to focus on our high-growth core marketing, media measurement and business information activities."
Producing 125 directories with a circulation of over 40 million copies, VNU World Directories has brand names such as Golden Pages, Gouden Gids, Pages d'Or, Paginas Amarelas and Pagini Aurii.