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Tuesday, December 4. 2007

Nokia Down, TomTom Opens Sale of Shares

LBS Geospatial Business
Nokia's stock price fell on an expected tightening of margins in the hardware business, as the company announced little growth in revenues for the next two years. Shares were down 4.5% this morning in Europe.

In the meantime TomTom put out shares for sale to help finance its acquisition of Tele Atlas. TomTom's shareholders approved the acquisition on Tuesday. The offer: "8,156,250 new ordinary shares at a price of 56 euros ($82.26) per share, raising gross proceeds of approximately 457 million euros."

- Reuters (Nokia)
- Reuters (TomTom)
Posted by Adena Schutzberg in LBS, Geospatial Business at 07:17 | Comment (1)

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"Garmin Chuckles" per The Motley Fool
http://www.fool.com/investing/general/2007/12/04/garmin-chuckles-as-tomtom-pays-the-piper.aspx
#1 Adena Schutzberg (Link) on 2007-12-05 09:31 (Reply)

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