Latest on TomTom/Tele Atlas

From the TomTom Front, several seemingly different stories on status:

(1) The company “declined to offer concessions to resolve European Union antitrust concerns as part of an EU review of its proposed acquisition of digital-map maker Tele Atlas NV,” according to Bloomberg. That means that TomTom is going with its initial takeover plan and “giving nothing” to make the EU more comfortable with the competition issues. The information is gleaned from the EU not changing its decision date. TomTom had until yesterday to submit any remedies; a final decision is expected May 21.

(2) Reuters paints a different picture:

Tele Atlas shares reversed a 5 percent gain on a Thomson Financial News report that the European Commission would not seek harsh remedies for TomTom’s proposed merger with Tele Atlas, but traders in Amsterdam said there was doubt about the EU review process, sending Tele Atlas shares sharply lower.

TomTom not offering remedies and the EU not seeking them sound different to me. Still all these reports seem a bit speculative.

(3) Thomson Financial suggests a remedy is on the table.

Satellite navigation group TomTom NV. is offering to license out map databases to alleviate European antitrust concerns over the company’s proposed $4.6 billion takeover of map maker Tele Atlas NV., sources told Thomson Financial News.

Suggested licensee? AND.

Another source said the commission is no longer asking for ‘physical’ remedies—such as the selling the map database—but wants ‘behavioural’ remedies, which could include database updates and contractual agreements.

That seems to jibe with Reuters comment above.