Information  X 
Enter a valid email address

Hibu Plc (HIBU)

  Print      Mail a friend       Annual reports

Friday 15 March, 2013

Hibu Plc

Response to Competition Commission final decision

RNS Number : 1064A
hibu plc
15 March 2013
 



 

 

 

For Immediate Release                                                                                                     15 March, 2013

 

hibu plc

("hibu" or the "Group")

hibu response to Competition Commission final decision

 

hibu plc ("hibu"), a leading provider of digital services connecting local consumers and merchants, welcomes the Competition Commission announcement today of its final  decision to release hibu from all undertakings in relation to its UK printed classified directory business.

 

The announcement by the Commission confirms its provisional decision last month and follows a period of public consultation on a recommendation by the Office of Fair Trading in October last year that hibu be released from its undertakings. These were given to the Commission in April 2007 when hibu was Yell Group plc and will now be removed with immediate effect.

 

Mike Pocock, Chief Executive Officer, said: "hibu welcomes the final decision of the Competition Commission. We have long maintained that the competitive landscape and challenges we face have altered significantly in recent years and that the undertakings are no longer appropriate. Our strategy addresses the digital marketing needs of our customers and extends the life of our print directories, supported by the introduction of innovative new print products. This reflects our customers' desire to connect with consumers via both on- and off-line channels."

 

Ends

About hibu

 

hibu helps communities thrive by facilitating millions of connections each year between consumers who want to find products and services locally and the merchants who provide them.

 

hibu helps consumers find local businesses and shop in new, innovative ways.  Its dedicated online hibu markets provide comprehensive, convenient access to local goods and services.  hibu helps merchants compete in the digital world with a broad range of marketing and commerce solutions delivered online and through hibu's direct sales teams.  Building on its heritage as a premier directories provider, hibu continues to offer a full range of print- and distribution-based marketing services.

 

hibu operates in the UK, US, Spain, Argentina, Chile, Peru and US Hispanic markets. In the year ended 31 March 2012, hibu had 1.2 million SME customers and total revenues of £1.6 billion.

 

For further information about hibu, visit hibu.com.

 

Enquiries

hibu - Investors

Andrew Clatworthy

Tel: +44 (0) 118 358 2838

hibu - Media

Jon Salmon

Tel: +44 (0) 118 358 2656

 

RLM Finsbury

Andrew Dowler

Tel: + 44 (0) 207 251 3801


 


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

a d v e r t i s e m e n t