May 14, 2008

TomTom/TeleAtlas Deal gets Euro OK

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The European Union gave clearance of the TomTom TeleAtlas deal which paves the way for the merger to move forward; the US gave its OK last year.

"The Commission concluded that the transaction would not significantly impede effective competition," an European Union executive said in a statement.

TomTom and Tele Atlas issued a joint release on the subject saying:

"The ruling of the EC is the best possible outcome for TomTom and Tele Atlas allowing the new combination to go ahead with the full execution of its strategy."

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Posted by Scott Martin at May 14, 2008 5:32 AM

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