Findexa takeover kills Europe's high-yield share

Tuesday 27 September 2005 at 16:00

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.