Advertisement
YOU ARE HERE: LAT HomeCollectionsSprint Corp

IN BRIEF / Technology

Bids for Sprint Directory Unit at About $2 Billion

July 18, 2002|Bloomberg News

Sprint Corp. fetched offers of about $2 billion for its directory unit, less than anticipated. Some analysts predicted bids as high as $2.5 billion.

Proposals to sell Yellow Pages units by companies such as Qwest Communications International Inc. have dampened prices.

"It's a buyers' market," said Daniela Spassova, director of credit research at Principal Capital, which owns Sprint bonds. Sprint's directory unit may fetch $1.5 billion to $2 billion, she said.

Sprint set an August deadline for the second round of offers.

Advertisement
Los Angeles Times Articles
|
|
|