Yell partners Netbiscuits for mobile apps

Reuters News
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Posted: Sep 15, 2011 5:58 AM
Yell partners Netbiscuits for mobile apps

(Reuters) - British directories publisher Yell Group Plc said it signed an agreement with cloud computing firm Netbiscuits to develop an application that will allow customers to access online shopping and other sites on mobile devices.

Yell's shares, which have plummeted by nearly three-fourths over the past year, were up 13 percent at 4.89 pence at 0942 GMT on Thursday on the London Stock Exchange.

"Local entrepreneurs and business operators will be able to extend their digital marketing and commercial activities by offering customers new mobile services and experiences, regardless of the platform or device," the company said.

Yell, which has tie-ups with companies like Microsoft, also said it expects to sign additional partnerships to further develop its online marketing platform.

The company, whose net debt stands at 2.7 billion pounds against a market capitalization of about 103 million pounds, said it did not expect to breach any of its covenants this financial year.

(Reporting by Anirban Sen in Bangalore; Editing by Joyjeet Das)