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The Kelsey Report® Advisory

Verizon to Acquire Telus Advertising Services
Charles Laughlin , 5/25/2001

Issue: VIS Steps in as Key BCE Rival in Canada

News: Verizon Information Services announced this week that it has agreed to acquire Telus Advertising Services, the Yellow Pages publishing subsidiary of Canadian phone company Telus, for 810 million Canadian dollars ($520 million U.S.). The deal faces regulatory scrutiny in Canada, but, if approved, the companies hope to finalize the deal sometime this summer.

Verizon plans to combine Telus Advertising Services with its existing Dominion Information Services and Les Annuaires du Quebec divisions, to create a Yellow Pages organization with anticipated 2001 revenues of $232 million. The new company would operate as Dominion Information Services. Verizon is expected to use proceeds from the recent sale of its share in Panorama Polska to Swedish telecom Telia to finance the Telus acquisition (Verizon inherited competing Yellow Pages operations in Poland as a result of the GTE-Bell Atlantic merger).

Verizon's Dominion Information Services currently acts as the publishing agent for Telus in British Columbia. In addition, Verizon announced plans to launch a Canadian version of its SuperPages online directory services following completion of the deal. Verizon also says it plans to continue publishing Telus directories under the Telus brand.

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