(YELL.L) Yell Group PLC Buy/Sell

RNS Number : 9821B Yell Group plc 04 November 2009

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of Yell Group plc

existing shares to which voting rights are attached:

2 Reason for the notification (please tick the appropriate box or boxes):
X

An acquisition or disposal of voting rights An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments An event changing the breakdown of voting rights Other (please specify):

3. Full name of person(s) Barclays plc

subject to the notification obligation:

4. Full name of shareholder(s)
(if different from 3.): Barclays Bank plc
Barclays Global Investors Ltd
Barclays Stockbrokers Ltd
Gerrard Investment Management Ltd
5. Date of the transaction and 03 November 2009

date on which the threshold is crossed or reached:

6. Date on which issuer 04 November 2009

notified:

7. Threshold(s) that is/are 5% to 6%

crossed or reached:

8. Notified details: A: Voting rights attached to shares

Class/type of Situation previous Resulting situation after the triggering transaction
shares to the triggering
transaction

if possible using the ISIN CODE
Number Number Number Number of voting % of voting
of of of shares rights rights
Shares Voting
Rights
Direct Direct Indirect Direct Indirect
GB0031718066 44,079,429 44,079,429 48,429,071 0 48,429,071 0.00% 6.16%

B: Qualifying Financial Instruments Resulting situation after the triggering transaction

Type of financial Expiration Exercise/ Number of voting % of voting
instrument date Conversion rights that may be rights
Period acquired if the
instrument is
exercised/
converted.

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments Resulting situation after the triggering transaction

Type of financial Exercise Expiration Exercise/ Number of voting % of voting rights
instrument price date Conversion rights instrument
period refers to
Nominal Delta

Total (A+B+C)

Number of voting rights Percentage of voting rights
48,429,071 6.16%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:

Barclays Bank plc Barclays Global Investors Ltd Barclays Stockbrokers Ltd Gerrard Investment Management Ltd

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14. Contact name: Geoff Smith

15. Contact telephone number: 020 7116 2913

Note: Annex should only be submitted to the FSA not the issuer Annex: Notification of major interests in share

A: Identity of the persons or legal entity subject to the notification obligation
Full name Barclays Bank plc

(including legal form of legal entities)

Contact address Barclays Compliance,
(registered office for legal entities) 1 Churchill Place,
London, E14 5HP
Phone number & email 020 7116 2913
Geoff.Smith1@
barclays.com

Other useful information (at least legal representative for legal persons)

B: Identity of the notifier, if applicable
Full name Yell Group plc
Contact address Queens Walk, Oxford
Road, Reading, RG1

Phone number & email +44 (0) 118 950 6501
Alison.Stanesby@
yellgroup.com

Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation)

C: Additional information

For notes on how to complete form TR-1 please see the FSA website.

This information is provided by RNS The company news service from the London Stock Exchange

HOLQZLFBKFBZFBX

LONDON, Nov 3 (Reuters) - French cable television operator Numericable has extended the final deadline for its loan covenant reset and debt buyback proposal by almost two weeks until Nov. 13, bankers said on Tuesday.
Numericable, which had to improve the terms of its offer at the beginning of October after meeting initial pushback from its lenders, also extended an 'early bird' deadline in late October.
Lending groups are adopting a tougher line as more borrowers ask for greater flexibility to meet covenants on their debt. UK Yellow Pages publisher Yell secured approval for a comprehensive refinancing from 95 percent of its lenders after extending the deadline three times.
Numericable, which recently announced it would not apply for France's fourth mobile phone licence, requires approval from two thirds of its bank syndicate for the loan amendment.
Nobody at Numericable was immediately available for comment.
Numericable's amendment pays an upfront fee of 50 basis points -- split between a 25 bps early bird fee and a 25 bps consent fee. Margins on Numericable's 3.225 billion euro leveraged loan will be increased by 75 bps - split 25 bps cash pay and 50 bps payment-in-kind - across the financing.
Numericable's private equity owners -- Cinven, Carlyle Group and Altice - will also delever the company by injecting 50 million euros cash into the company and negating existing sponsor-held debt.
The company asked banks to give it more headroom on its leverage and interest cover covenants in early September, starting at 10 percent and rising to 20 percent, a source said at the time.
(Reporting by Zaida Espana; Editing by David Cowell) Keywords: NUMERICABLE/LOAN

(zaida.espana@reuters.com; +44-20-7542-7996; Reuters Messaging zaida.espana@reuters.com@reuters.net)

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Reuters has stopped distributing the full text of Moody's Investors Service press releases on ratings actions, effective April 1, 2009. The text of this Moody's Investor Service rating is available at www.moodys.com.

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RBS AND LLOYDS AIM FOR 54 BILLION POUND FUNDING

Royal Bank of Scotland and Lloyds Banking Group will outline on Tuesday moves to raise a combined 54 billion pounds in new funding. Chancellor Alistair Darling is set confirm the government will inject more than 30 billion pounds of the new capital in a bid to reshape Britain's finance industry. Darling will also announce an emergency 8 million pound "contingency equity" fund to rescue RBS in the event of a future financial crisis. Liberal Democrat treasury spokesman Vince Cable has described the move as "very precarious".

'END GAME' NEAR FOR FINAL SALARY PENSIONS

According to EEF, the manufacturing employers' association, the "end game" for final salary pensions is rapidly approaching as its latest figures pointed to a continuing fall in the number of schemes. EEF's annual survey showed that a third of businesses currently retaining final salary, or defined-benefit, pensions plan to close it to new entrants or to further contributions from existing employees. David Yeandle, head of EEF's employment policy, said: "As more and more companies go down this road, the closure of DB schemes will start to become something of a self-fulfilling prophecy."

EDF READY TO PROTEST OVER REGULATION

Electricity and gas group EDF is ready to call in the Competition Commission to investigate the regulation of electricity distribution networks. The French-owned company says that, in order to invest in the latest "smart grid" technology, the industry needs to be allowed to make sufficient profits. Energy watchdog Ofgem is soon due to reveal the results of its latest five-yearly review of the price control regime for local electricity networks. The review will cover the years 2010-2015.

BUILDERS GIVE TAX PROPOSALS A HAMMERING

Critics are lining up to oppose a proposed government crackdown on tax-dodging builders, saying such a move would penalise the genuinely self-employed, increase construction costs and boost the black economy. The Treasury is facing a mounting backlash against plans to collect an extra 350 million pounds of tax and national insurance contributions from an estimated 300,000 workers falsely described as self-employed.

HALF OF DIRECTORS SEE PAY STALL

According to the Institute of Directors, half of directors have had their pay frozen this year and many more are working longer hours because of the recession. The group is calling for the public sector to accept the need for pay freezes and to share the pain being felt in the private sector. The IoD's annual directors' rewards survey found that 44 percent of executive directors had faced having their pay frozen and 6 percent had taken a pay cut.

FRIENDS SITE SALE HITS OBSTACLE

Friends Reunited has been referred to the Competition Commission over concerns its sale could damage the online genealogy market. In August ITV agreed to sell the networking site for 25 million pounds to Brightsolid, a division of newspaper and magazine publisher DC Thomson. However, the Office of Fair Trading says it believes the sale would lead to reduced competition in a fast-growing market. OFT is concerned about Brightsolid's plan to combine the history arm of Friends, namely Genes Reunited, with its own genealogy properties: FindMyPast.com and 1911census.co.uk.

MARK WARNER REVIEWS OFFERS

Mark Warner has asked PwC to review a number of approaches from interested parties over a sale of the travel operator. The company's shareholders have asked PwC to "give strategic advice" and review its business plan as they consider a sale in light of this year's weaker outlook. Mark Warner frequently attracts potential bidders and the recession is making consolidation in the sector a more compelling strategy.

YELL POISED TO DETAIL CAPITAL-RAISING PROPOSALS

It is likely that Yell will unveil plans to raise at least 500 million pounds next week following an agreement with more than 300 creditors to restructure its business. It is thought that the fundraising will take the form of a placing and open offer which will help diversify its shareholder register. Further details of the equity raising could come on Nov. 10 when Yell releases first-half results. Its shares climbed 4 percent to reach 51.25 pence on Monday.

TELECITY SET TO DOUBLE CAPACITY

Telecity is facing the prospect of its data centres becoming full in just over a year's time and the group is preparing to raise its capacity significantly, in facilities across Europe, to cope with the demand. Chief Executive Mike Tobin said plans could be announced next year and involved further centres in Amsterdam and London. Telecity, which saw its shares rise 2.5 pence to reach 337.5 pence on Monday, is completing an expansion that will see it double capacity over four years, reaching 60MW of power by 2011.

PRIVATE COMPANY PURCHASE VALUE FALLS

A report by accountants UHY Hacker Young has revealed that the value of private company acquisitions dropped by two-thirds in the year to July. The fall came as banks stopped financing takeovers and the economic uncertainty meant managers held back from launching buy-outs. Chris Lowry, a partner at UHY Hacker Young, said: "Before this hiatus there was always a belief that owning your own business was a good thing to do, but now that is not clear, because of the uncertainty." In the year to July 31, there were 1,453 private companies acquired for a total value of 6.8 billion pounds. This is down from 2,336 private company acquisitions for a total of 19.5 billion pounds in the previous year.

Prepared for Reuters by Durrants. Keywords: BRITAIN PRESS/FT

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Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.