Monday, October 16, 2006

Verizon to Spin Off Directories

New York Times:
Verizon Communications is close to deciding to spin off rather than sell its directories division, because a spinoff would cost it less in taxes, according to a person briefed on the discussions.

Verizon’s board is expected to begin debating the matter in the next few weeks and could make a final decision in about a month, this person said. Verizon has said it would spin off or sell the group, Verizon Information Services, by the end of the year.