ITALY - SEAT Pagine Gialle on the lookout for buyers

Following months of speculation about the future of SEAT Pagine Gialle, press reports suggest that the directories business is up for sale. Rumour has it that Lehman Brothers has been hired by the private equity consortium (comprising of Permira, CVC Capital Partners, BC Partners and Investitori Associati) which owns 49.6% of the company to explore exit options. Lehman Brothers itself owns 12% of the publisher of telephone directories, bought in 2004 for around EUR 800m. Prospective buyers may include Blackstone and Providence.