Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHIBU.L Regulatory News (HIBU)

  • There is currently no data for HIBU

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Response to OFT

16 Feb 2012 15:02

RNS Number : 5838X
Yell Group plc
16 February 2012
 



For Immediate Release 16 February, 2012

 

 

Yell Group Plc ("Yell")

 

Yell Response to Office of Fair Trading Statement on Review of Undertakings

 

 

Yell welcomes the announcement by the Office of Fair Trading today that it is carrying out a review of the undertakings given by Yell to the Competition Commission in April 2007 in relation to its UK print classified directory business.

 

Yell looks forward to working with the Office of Fair Trading to assist it in its review and will continue to do so throughout this process.

 

 

Ends

 

Enquiries:

Yell - Investors

Rob Hall

Tel: +44 (0)118 358 2838

Yell - Media

Jon Salmon

Tel: +44 (0)118 358 2656Mobile: +44 (0)7801 977340

RLM Finsbury

Andrew Dowler

Tel: +44 (0)207 251 3801

Notes to Editors:

 

1. The OFT is required by s.162 Enterprise Act 2002 to keep under review any undertakings given to the Competition Commission following a market investigation and to consider, from time to time, whether, by reason of a change of circumstances, any set of undertakings is no longer appropriate and should be varied or terminated. The OFT will advise the Competition Commission on such matters as it considers appropriate.

2. Responsibility for deciding to vary or terminate any set of undertakings lies with the Competition Commission. The decision by the Competition Commission will be made in light of the advice from the OFT.

3. Yell gave undertakings to the Competition Commission on 4 April 2007 following the completion of the Competition Commission's report on its market investigation into the supply of classified advertising directory services (published on 21 December 2006). The undertakings note that the Competition Commission recommended that the undertakings be reviewed by the OFT after a period of three years from the date of acceptance of these undertakings. This period ended on 4 April 2010.

4. The undertakings required Yell to comply with a number of restrictions, including a price control of RPI-6% until March 2008 on the prices charged by Yell in the UK for its classified Yellow Pages print advertising; a price control of RPI was then be applied from that date onwards. Other remedies included the permitting of volume discounts provided they were published and available to all advertisers; lifting of a block on Yell publishing local - or "second tier" - directories, but subject to certain restrictions; and Yell to be allowed to publish themed guides - on particular topics - provided they contain only a limited number of classifications.

5. There is no fixed timetable in which a review of undertakings must be completed. However, the OFT and Competition Commission will endeavour to conduct each review as quickly as possible.

 

 

About Yell

Yell Group is a leading provider of digital services within the emerging local eMarketplace for consumers and SMEs across its operations in the UK, US, Spain and some countries in Latin America.

Building on its strong presence in the local market through its current digital and print portfolio, Yell is developing a broad range of digital services tailored to the converging needs of SMEs and consumers.

These address both the SMEs' need to grow, transact and be efficient in the digital world, and the consumers' need to connect locally to the goods and services they want, in a way which saves them time and money, and moves their lives forward.

In the year ended 31 March 2011, Yell Group had 1.3 million SME customers.

 

www.yellgroup.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
RSPEASAKFEFAEFF
Date   Source Headline
27th Nov 20134:00 pmRNSRestructuring Update
6th Nov 20135:00 pmRNSNotice of General Meeting
29th Oct 201310:40 amRNSFinancial Update
23rd Oct 20137:00 amRNSRequest for a general meeting of shareholders
17th Oct 20137:00 amRNSAnnouncement of future Board changes
17th Oct 20137:00 amRNSRestructuring Update
25th Jul 20138:01 amRNSSuspension Hibu PLC (Replacement)
25th Jul 20137:30 amRNSSuspension Hibu PLC
25th Jul 20137:00 amRNSRestructuring Update
25th Jul 20137:00 amRNSInterim Management Statement
25th Jul 20137:00 amRNSLetter from the Chairman
25th Jul 20137:00 amRNSFinancial Information for 12 months
24th Jul 20134:40 pmRNSSecond Price Monitoring Extn
24th Jul 20134:35 pmRNSPrice Monitoring Extension
23rd Jul 20134:35 pmRNSPrice Monitoring Extension
17th Jul 20134:40 pmRNSSecond Price Monitoring Extn
17th Jul 20134:35 pmRNSPrice Monitoring Extension
21st Jun 20132:29 pmRNSBLOCK LISTING SIX MONTHLY RETURN
6th Jun 20134:35 pmRNSPrice Monitoring Extension
28th May 20134:40 pmRNSSecond Price Monitoring Extn
28th May 20134:35 pmRNSPrice Monitoring Extension
24th May 20134:52 pmRNSAnnouncement
13th May 20134:40 pmRNSSecond Price Monitoring Extn
13th May 20134:35 pmRNSPrice Monitoring Extension
9th May 20134:40 pmRNSSecond Price Monitoring Extn
9th May 20134:35 pmRNSPrice Monitoring Extension
23rd Apr 20134:35 pmRNSPrice Monitoring Extension
15th Apr 20134:35 pmRNSPrice Monitoring Extension
15th Mar 20139:53 amRNSResponse to Competition Commission final decision
12th Mar 20134:40 pmRNSSecond Price Monitoring Extn
12th Mar 20134:35 pmRNSPrice Monitoring Extension
18th Feb 20134:40 pmRNSSecond Price Monitoring Extn
18th Feb 20134:35 pmRNSPrice Monitoring Extension
12th Feb 20137:00 amRNSInterim Management Statement
23rd Jan 20134:40 pmRNSSecond Price Monitoring Extn
23rd Jan 20134:35 pmRNSPrice Monitoring Extension
4th Jan 201312:15 pmRNSBlocklisting Interim Review
19th Dec 20124:41 pmRNSHolding(s) in Company
17th Dec 20124:40 pmRNSSecond Price Monitoring Extn
17th Dec 20124:35 pmRNSPrice Monitoring Extension
17th Dec 20123:19 pmRNSUpdate on restructuring process
7th Dec 20121:21 pmRNSRestructuring Update
13th Nov 20127:00 amRNSInterim Results
12th Nov 20127:00 amRNSRestructuring Update
2nd Nov 20121:31 pmRNSHolding(s) in Company
29th Oct 20124:40 pmRNSSecond Price Monitoring Extn
29th Oct 20124:35 pmRNSPrice Monitoring Extension
29th Oct 20123:46 pmRNSRestructuring progress
26th Oct 20128:26 amRNShibu response to OFT
26th Oct 20127:00 amRNSOFT recommends CC review Yellow Pages undertakings

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.