Yell Group Plc, the publisher of Yellow Pages directories, agreed to buy Telefonica Publicidad e Informacion SA, the Spanish directory company controlled by Telefonica SA, for 3.07 billion euros ($3.85 billion). Yell will also assume about 220 million euros of debt, the company said.

TPI has a significant presence in Spain, Latin America and Italy. In 2004 it had revenues of 608 million euros (US$ 772 million) and Earnings before Interest Taxes and Ammortization (EBITDA) of 210 million euros (US$ 267 million). In 2004 Latin America contributed to 20% of TPI's revenues and to 14% of its EBITDA.

In Spain TPI owns Paginas Amarillas, Paginas Blancas, Pack Nueva Vivienda, Europages, NAN Construccion, Distribucion Directa, NAN Hosteleria, On-Line). In Brasil TPI publishes Guia Mais, Guia Mais de Bolsillo and has an online presence for these directories.

In Chile TPI produces Las Amarillas de Publiguias, Guia Comercial Alfabetica, and has a online presence for these directories. On-line, Peru (Paginas Amarillas, Paginas Amarillas de Bolsillo, and has an online presence. In Italy, TPI has phone information services and in Argentina it publishes Paginas Doradas.

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