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Friday, March 28. 2008

EU Extends TomTom/Tele Atlas Review Another 10 Days, Stock Falls

LBS Geospatial Business

Thursday the EU said it would extend its review of the proposed acquisition by 10 working days. The decision was made by the commission and both companies, said a spokesperson. Tele Atlas lost as much as 3.7 percent on the news. The extension may mean the acquisition may not complete until the second half of the year. One other change: TomTom now has a bit more time to offer remedies to the concerns.

- Bloomberg

Posted by Adena Schutzberg in LBS, Geospatial Business at 06:43 | Comments (0) | Trackbacks (0)

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