Canada’s BCE May Sell Phone-Book Unit
BCE Inc., Canada’s biggest telecommunications company, may sell its phone-book unit to Kohlberg Kravis Roberts & Co. for about $1.8 billion, people familiar with the matter said.
Executives from the world’s biggest buyout firm are meeting with BCE’s management in Montreal this week to try to reach an agreement, the people said. Montreal-based BCE is among a handful of telecommunications companies, including Qwest Communications International Inc., selling phone-book units. Although some of the sales are to repay debt, BCE needs cash to help pay for a 20% stake in Bell Canada, which BCE agreed in June to buy back from SBC Communications Inc. for $4.02 billion.
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