BT Buys Yellow Book USA

British Telecommunications, Britain’s biggest phone company, said it bought Yellow Book USA, the nation’s largest independent yellow pages publisher, for $665 million as it builds its online directory business. BT bought the New York-based company from VS&A; Communications Partners II, a media investment company. Yellow Book will become part of BT’s own directory business, with combined sales of $1 billion. BT’s American depositary receipts closed down $4 to $156.50 on the NYSE.