TeleAtlas denies talks of TomTom Split
Date: Friday, May 22 @ 09:39:32 UTC
Topic:
 With analysts hinting that Tomtom may have to sell off TeleAtlas in order to meet loan payments TeleAtlas have been quick to deny this is being discussed.
TomTom took a considerable financial gamble with the acquisition of mapmaker TeleAtlas following a bidding war with Garmin.
The combined effect of the purchase price and the global downturn has resulted in a very gloomy outlook for the Dutch Satnav brand with ever increasing losses and suggestions that loan covenants may be breached.
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