02 March 2008

EU sends TomTom formal objections to Tele Atlas deal

(Reuters)
The European Commission is sending a "statement of objections" to TomTom on its plans to purchase map supplier Tele Atlas. TomTom, the world's biggest maker of car navigation devices, had offered some remedies to meet concerns within the European Commission that the deal would be anti-competitive but, the European Union executive was unable to accept them before the deadline for sending the "statement of objections" . The statement does not, however, mean the deal will be rejected. Instead, TomTom will have to come up with better remedies. The deadline for a decision is May 5.