EU now formally opposed to TomTom / Tele Atlas deal

Ryan Block
R. Block|03.01.08

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Ryan Block
March 1, 2008 3:41 PM
EU now formally opposed to TomTom / Tele Atlas deal
Reuters is reporting that the European Commission, apparently having completed is inquiry into the $4.2b acquisition offer TomTom made Tele Atlas last year, is issuing a "statement of objections." It's not a flat-out rejection / do not pass go / do not collect $200, but now TomTom supposedly has until May 5th to work on resolving the issues the EU's presented before it can get the thumbs up to make its big buy.
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