HIBU.L Regulatory News (HIBU)

24 Jan 2006 07:06

Yell Group plc24 January 2006 Competition Commission's Investigation into the Supply of Classified Directory Advertising Services Emerging Thinking Yell Group plc ("Yell") notes today's publication by the Competition Commissionof its 'Emerging Thinking' and its recognition that the Commission has yet toreach any final conclusions. Commenting, John Condron, CEO of Yell, said: "We find it difficult to recognise the market in which we compete from the onedescribed in the Commission's 'Emerging Thinking'. Since the last review,competition has increased and diversified markedly. There has been major newentry into the printed directory space, notably BT, and exponential growth ininternet usage. "The impact of this increasing competition has been to spur Yell intoconsistently improving its efficiency, customer service and customer value formoney. Yell has cut its prices by an average of just under 30% - substantiallymore than the regulation itself required; and increased its customer numbers bymore than 50%. "Regulation should be about the future, not the past. The CompetitionCommission is clearly investigating an increasingly competitive marketplace. Wewill continue to fiercely contest that, in such an environment, regulation is nolonger required." Enquiries Investors: Jill Sherratt Tel +44 (0)118 950 6984 Mobile +44 (0)7764 879808 Media: Yell - Jon Salmon Tel +44 (0)118 950 6656 Mobile +44 (0)7801 977340 Media: Citigate Dewe Rogerson - Anthony Carlisle Tel +44 (0)20 7638 9571 Mobile +44 (0)7973 611888 This information is provided by RNS The company news service from the London Stock Exchange