Thursday, March 20. 2008

Insiders: TomTom/TA likely a go; Nokia/NAVTEQ will be scrutinized

Forbes offers the details in a Thompson Financial report:

A legal source told Thompson the deal is a go and will likely clear before the May 5 deadline.

Analysts tell Thompson TomTom is still committed to the acquisition and is open to adjustments to make it happen.

Possible remedies to EU concerns, say an anonymous source, are likely to be proposed this week. One is setting up a third mapping company, perhaps from a Tele Atlas independent distributor to compete against TA and NAVTEQ.

The commission said that Nokia has not offered "remedies" about concerns over its acquisition of NAVTEQ. That means that the EU must either approve the deal "as is" or further investigate. Legal sources say an inquiry is expected.

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