EU to investigate Nokia plans to buy Navteq

[Darren]

Back in October of 2007 we reported Nokias plans to purchase Navteq. At the time this was widely perceived to be bad for the consumer and now it would appear the European Commission may agree.

The European Commission have just announced they are to launch an investigation into Finnish company Nokia's plans to purchase Navteq citing "serious doubts with regards to vertical market concerns".

They further added "the Commission has identified serious doubts about the compatibility with the Common Market of the acquisition by Nokia of Navteq because it might, in the light of the duopoly market for navigable digital maps and Nokia's strong position on the market for mobile handsets, lead to a significant impediment of competition within the EEA"

Click here to read the European Commission's full statement...
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Darren Griffin

[RobBrady]

The European Commission has now approved Nokia's acquisition of Navteq. The deal is expected to close within the next few days.
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Robert Brady

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