Verizon Communications to get out of phone directories business

Verizon Communications to get out of phone directories business

US based Telecom Company Verizon Communications Inc. has said that they plan to soon get out of the phone directories business.

This further reflects the company’s vision to concentrate on its Internet and wireless communications businesses.

The company said that it registered a possible spin-off of the directories business with the regulatory authorities. This division alone reported revenues of around $3.45 billion last year.

However, Verizon is currently not sure on whether they would spin off this division or just sell it off. They had already said last year that the company management is reviewing their directory business.

Verizon added that if this unit is spin off, it would create a new, publicly traded company with management independent of Verizon with around 7,100 employees.