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TomTom Reports Net Loss of 870m
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oldbwl
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Joined: Oct 24, 2003
Posts: 12

PostPosted: Sat Feb 28, 2009 9:09 am    Post subject: TomTom posting loss Reply with quote

I think it is important to remember that the major portion of the loss posted relates to the write down in value of TeleAtlas. This accounting exercise means that they had to wipe 1bn from the value of the combined group. The actual trading loss was much smaller and in relation to the size of TomTom not a worry during these difficult times.

The write down if TeleAtlas was inevitible after the auction process effectively raised the price paid far above its real value. However, they will still be able to derive sufficient leverage from the combined group to justify the purchase, I think.
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