BRUSSELS (Thomson Financial) - The European Commission said it has opened an
in-depth investigation into Dutch portable navigation device producer TomTom
NV's proposed acquisition of peer Tele Atlas NV.
The EU executive now has until April 17 to take a final decision.
The commission's initial market investigation has indicated that the
proposed merger raises serious doubts with regard to vertical competition
concerns.
A decision to open an in-depth inquiry does not prejudge the final result of
the investigation.
Earlier today, TomTom said it has extended the tender offer period for Tele
Atlas shares until March 31, pending finalisation of the takeover.
frances.robinson@thomson.com
fr/cmr
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