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Findexa takeover kills Europe's high-yield share

Findexa, a Norwegian telephone directories business and the only company in Europe to offer guaranteed dividends under a special share issue structure, is set to be delisted following its Nkr6.6 ($1bn) acquisition by Eniro, a Swedish rival.

Findexa's Nkr 1.1bn flotation in May was the first in Europe to use a high-yield share issue structure, which guarantees investors a dividend yield of more than four times the Oslo stock market average.

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