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

D-Link Wi-Fi Smart Plug

Home automation fans have been getting their fair share of gadgets and accessories in the last few years. Starting with light bulbs, a ...

Razer Kraken Pro headset

Gaming headphones are a challenge to get right, for a long list of reasons that are unique to the consumer buying them. Some shoppers ...

Patriot Aero Wireless Mobile Drive

Regardless of how large a tablet you buy, you always want more space. There's always one more movie or another album you'd cram on, if ...

Sponsor

toggle

Most Commented

 
toggle

Popular News