EU Objects to TomTom / TeleAtlas Deal
Date: Monday, March 03 @ 10:20:18 UTC
Topic:
Source: Reuters 1 Mar 2008
According to a Reuters news item, The European Commission is sending a "statement of objections" to TomTom in connection with their plan to buy TeleAtlas, TomTom's main map data supplier.
TomTom had submitted solutions to some of the specific areas of objection but they were not accepted before the deadline. The "statement of objections" lays out the competition problems such a deal presents but does not mean a deal will be rejected. The European Commission are instead now looking to TomTom to offer solutions by a May 5 deadline.
According to the news item, whilst statements of objection complicate and slow the process TomTom is pressing on with its plans.
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