Bids for Sprint Directory Unit at About $2 Billion
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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.
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