AT&T plans to sell a majority stake in its Yellow Pages business to private-equity firm Cerberus Capital Management for US$950 million in cash and debt, shedding one of its legacy businesses as the firm concentrates on its mobile efforts. According to Dow Jones Newswires, the Us operator giant will receive US$750 million in cash and a US$200 million note from Cerberus, while retaining a 47 percent ownership stake in the new entity, called YP Holdings.
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