Citigate wins Yell finance task as IPO rumours grow

Yell, the directories business sold off by BT last year, has enlisted Citigate Dewe Rogerson for financial and corporate PR as rumours mount of an imminent stock market flotation.

The move comes weeks after Yell appointed investment banks Merrill Lynch, Goldman Sachs and JP Morgan on a mandate believed to be in preparation for its initial public offering (IPO).

Yell, which owns Yellow Pages and, has tasked Citigate with all investor relations, City and corporate PR relating to the group and its brands.

Citigate won a competitive pitch for the business, with a brief to focus on communicating the group's full value and potential across the UK.

Citigate executive director Tony Carlisle heads the account, reporting directly to Yell CEO John Condron.

'Yell is with people every day, but few would look beyond the service they use, such as Yellow Pages, to understand the nature and value of the business,' said Carlisle. 'The job of financial PR and communications is to bring this to people's attention.'

Yell, bought last year by venture capital investors Apax Partners and Hicks, Muse, Tate & Furst, would not comment on the likelihood of a flotation.

But industry speculation is that an IPO is likely this summer. It is widely expected Yell would float for between £3bn and £4bn.

The group is in the final stages of buying US publishing firm McLeod for £420m.

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