What Wall Street sees in the Yellow Pages
Bloomberg Business Week discusses why Cerberus Capital Management would buy AT&T’s Yellow Pages and quotes Rita McGrath:
Rita McGrath, an associate professor at Columbia Business School, explained last month that while private equity investors often look for companies they can turn around, that probably isn’t what drew them to the Yellow Pages. Instead, they may be hoping to earn a decent return on their investment as the business shrinks. “This one is like a cash register—it just dribbles out on an ongoing basis,” she said. McGrath likened it to individual investors having a CD in their portfolio.
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