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01/10/2007 - Infonxx favourite to buy D.Telekom enquiries-report
FRANKFURT, Sept 29 (Reuters) - U.S.-based privately owned Infonxx Inc has submitted the highest bid for German telecom operator Deutsche Telekom's (DTEGn.DE: Quote, Profile, Research) directory of enquiries unit, a German business weekly reported on Saturday.
The WirtschaftsWoche said, citing company sources, that the bid of around 550 million euros ($780.2 million) made Infonxx -- a non-carrier provider of directory assistance -- the favourite to acquire the unit.
A Deutsche Telekom source said in June that the company was evaluating a possible sale of the directory enquiries business as part of a drive to cut costs and sell off non-core assets.
Another factor in favour of Infonxx is that it is the only strategic buyer still in the running, the WirtschaftsWoche said.
The ongoing credit market crisis has made it harder for financial investors to line up bank funding for takeovers, it said.
http://www.reuters.com/article/mergersNews/idUSL2924412220070929
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