Yell Group May Sell U.S. Unit, Swap Debt, Sunday Times Reports

Dec. 5 (Bloomberg) -- Yell Group Plc Chief Executive Officer Mike Pocock is preparing an emergency review that may result in the sale of its U.S. unit, the Sunday Times reported.

Pocock is expected to consider asset sales and a debt-for-equity swap to get the company’s 2.9 billion pounds ($4.6 billion) of debt under control, the newspaper reported, without saying how it got the information. Reading, England-based Yell is the publisher of the U.K.’s yellow pages directories.

To contact the reporter on this story: Bryan Keogh in London at bkeogh4@bloomberg.net

To contact the editor responsible for this story: Paul Armstrong at Parmstrong10@bloomberg.net