Printed from http://www.electronista.com

European Commission probes Nokia/NAVTEQ deal

updated 12:40 pm EDT, Fri March 28, 2008

Europe probes Nokia/NAVTEQ

The European Commission has begun a serious investigation into Nokia's planned purchase of NAVTEQ, Reuters says. The inquiry has an initial deadline of 90 days, with a possible extension to 125; in question is whether or not the deal violates any monopoly concerns. The Commission observes that NAVTEQ is only one of two major producers of digital maps for GPS services, which could give Nokia an unfair advantage in its cellphone business.

Nokia is downplaying the investigation, writing in statement that it "does not in any way signal the ultimate outcome." The NAVTEQ deal is considered to be extremely important to the company though, as Nokia has planned to spend $8.1 billion on the acquisition, and it could ultimately save money by eliminating licensing costs.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

JBL Synchros E40BT headphones

For all the different configurations of headphones on the market, it's always a tough choice for buyers to get something that is just ...

Razer Taipan mouse

The list of gaming devices is growing larger with each passing day. A large number of companies have entered the gaming input arena, a ...

Cambridge Audio DacMagic XS

Every computer with a microphone or headphone port has one -- a digital to analog converter (DAC). There are nearly as many chipsets a ...

Sponsor

toggle

Most Commented

 
toggle

Popular News