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Nokia’s NAVTEQ acquisition draws probe from the EU
March 28, 2008
Filed under: Cellphones, GPS
It may have won approval from the U.S. Federal Trade Commission and NAVTEQ shareholders alike, but it looks like the EU’s European Commission needs a bit more time to think over Nokia’s acquisition of the company, and it’s now launched an “in-depth” probe into the matter. According to Reuters, the Commission said that the “proposed merger raises serious doubts with regards to … competition concerns,” although it was quick to add that the decision to open the inquiry does not prejudge the result of the probe. Among other things, the probe will apparently attempt to asses whether whether the purchase would affect the cost of maps for other companies providing navigation services on cellphones. If all of this has a familiar ring, it should, because it wasn’t all that long ago that the EU launched a similar probe into TomTom’s similar acquisition of map-maker Tele Atlas.
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Original post by Donald Melanson