June 15, 2009

TomTom to Sell More Shares - Eliminate Debt

TomTom is selling more shares to raise about 100 Million Euros to help retire some of its debt which amounts to around 1.4Billion Euros stemming from its takeover of TeleAtlas for 2.9Billion Euros. the purchasers of the debt are Cyrte Investments a technology investment firm and Janvio Holding, an investor in TomTom already. Clearly TomTom needs to restructure it's debt and get more than a toe hold in the emerging markets beyond simple GPS navigation; mobile phone and services after the sale represent new areas for growth (traffic subscriptions, etc).

ReadMore at the WSJ

Thanks Jim for sending this in.

Read More in: TomTom GPS News

Share this Article with others: social bookmarking

Related Articles:

Came straight to this page? Visit GPS Lodge for all the latest news.

Posted by Scott Martin at June 15, 2009 7:21 AM

Recent Comments

Post a comment

Remember personal info?

Please enter the letter "e" in the field below:
Please press Post only once. Submission of comments takes up to 20 seconds because of Spam Filtering.
Join the Mailing List Mailing List
Enter your Email

Powered by FeedBlitz

facebook_badge.jpg twitter_badge.jpg

Subscribe - RSS
Site Navigation

Visit our other properties at Blogpire.com!



This weblog is licensed under a Creative Commons License.

Powered by
Movable Type 6.3.6
All items Copyright © 1999-2017 Blogpire Productions. Please read our Disclaimer and Privacy Policy