THE man at the centre of a bidding war for Cityneon, Yellow Pages chairman Stanley Tan, has welcomed a rival bid by Malaysia's Star Publications for the exhibition services provider.

Mr Tan told The Straits Times that Star's entry into the fray last week vindicated the pricing of the directory publisher's offer - launched in July this year.

'Cityneon is a well-run business and I'm glad they are actually collaborating with Star to show that it's worth more than we are bidding, because it tells the market that we were not unsound in our establishing of value for Cityneon,' he said.

Read Yang Hui Wen's full story in Thursday's edition of The Straits Times.