Reed wary of deadline for Business Info unit sale
LONDON, Feb 21 (Reuters) - For Anglo-Dutch publisher Reed Elsevier (ELSN.AS) (REL.L) the credit-related turmoil in global markets means selling its business information arm could take some time, Chief Executive Crispin Davis said on Thursday .
Davis told reporters in a conference call after the company's 2007 results that Reed was not yet in talks with potential buyers, adding that given current market conditions he might have to be patient in terms when any deal gets done.
"We don't have any particular buyer in mind, we do think there will be a wide and strong level of interest in this business both from strategic and private equity buyers, we are very open minded on who and when," he added.
Reed plans to sell its Reed Business Information arm to reduce its exposure to cyclical advertising markets.
Davis also said that given the wider restructuring of the business announced on Thursday there were likely to be job cuts over the next three years, but it was too early to say how many.
UK newspaper reports over the past week have said the company was considering around 1,000 job cuts.
To read story on Reed click on [ID:nL21545124] (Reporting by Gavin Haycock; Editing by Greg Mahlich)
