Shares in Yell, the UK directories group, rose 2.3% on Wednesday to 314.75p following completion of the placing of almost a third of the company's shares by Goldman Sachs and Merrill Lynch for £721m (€1bn).

The shares were formerly held by private equity firms Apax Partners and Hicks, Muse, Tate & Furst, which bought Yell to market last year.