Feeds

EU to probe Nokia NavTeq purchase

Proposed deal 'raises serious doubts'

Intelligent flash storage arrays

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. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
4chan outraged by Emma Watson nudie photo leak SCAM
In the immortal words of Shaggy, it wasn't me us ... amirite?
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.