After last month's stinging profit warning from the listings publisher Yell Group (YELL.LN), few investors would expect a takeover approach. But that is exactly what traders were talking about ...

TELEPHONE directories group Yell yesterday resurrected plans for a flotation in a move expected to value the group at up to £2.1bn.

Shares in Yell received a much-needed boost after the highly indebted directories group moved to expand its online operations through a tie-up with Microsoft.