OTPP bought the New Zealand Yellow pages for $US 1.6 billion in 2007[1]. Perfectly timed just as the Internet and Mobile phones took over everything (and just before the GFC hit). Just 3 years later it was a complete mess.[2]
My god. Even in 2007 one glance at the stack of phone books in any apartment building lobby would have told you how little people were using them even then.
[1] https://www.forbes.com/2007/03/27/nz-yellow-pages-markets-eq...
[2] https://www.stuff.co.nz/business/money/64397212/yellow-direc...