Formal commencement of public offer for TPI - 23 June 2006
Yell Group plc ("Yell") announces the formal commencement of its public offer for Telefónica Publicidad e Información, S.A. ("TPI").Following the approval of Yell's shareholders, clearance from the Spanish competition authority (the Servicio de la Defensa de la Competencia) and approval by the Spanish securities regulator (the Comisión Nacional del Mercado de Valores), the all cash public offer by Yell for the entire issued share capital of TPI announced on 28 April 2006 formally opens for acceptances today (23 June 2006) and is expected to remain open until 24 July 2006.
