FTSE falls as Yell announces £850m IPO

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It was a fascinating rumour by the end of business yesterday, but suggestions that Yell will opt for...

It was a fascinating rumour by the end of business yesterday, but suggestions that Yell will opt for a £850m IPO have finally hit FTSE trading. Yell Group, the UK publisher of the Yellow Pages, is reopening plans to sell £850m worth of shares in an initial price offering, just a year after it was forced to cancel a previous attempt to do so because of struggling stock markets. Little more info is known at this stage, but pricing and allocation are expected to be set for July 9th, before the market is flooded with the shares. It's not necessarily as a result of this announceme...

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