Feeds

EU to probe Nokia NavTeq purchase

Proposed deal 'raises serious doubts'

Boost IT visibility and business value

The European Commission has launched a formal investigation into Nokia's plans to buy NavTeq, a US company that produces navigable digital maps.

The $8.1bn proposed deal "raises serious doubts with regards to vertical competition concerns", the Commission said in a statement.

Nokia is the world market leader in mobile phone handsets, while Navteq is one of only two producers of navigable digital maps offering complete coverage of Europe and North America.

The final decision is expected to be announced on 8 August. The investigation, under the EU Merger Regulation, will assess "whether the transaction would increase the costs of navigable digital map for other companies providing navigation services on mobile handsets or limit their access to these maps, and as a consequence harm consumers".

Nokia played down the significance of the announcement, saying it "does not in any way signal the ultimate outcome."

"We have engaged in an open and constructive dialogue with the Commission in order to find agreement on the acquisition of NAVTEQ," said Rick Simonson, Executive Vice President and Chief Financial Officer at Nokia. "We have listened to the Commission's concerns, and look forward to finding a common understanding that will enable the transaction to be closed."

Here's Nokia’s statement and the EC's statement. ®

Boost IT visibility and business value

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.