News
EC to investigate Nokia Navteq deal
Tim Green Mar 31 2008, 2:18pm
The European Commission is to investigate the proposed acquisition of Navteq by Nokia.
It’s taken the action is response to questions raised about the purchase under EU Merger Regulation. After a preliminary review, the Commission has identified ‘serious doubts about the compatibility with the Common Market of the acquisition by Nokia of Navteq because it might, in the light of the duopoly market for navigable digital maps and Nokia's strong position on the market for mobile handsets, lead to a significant impediment of competition within the EEA’.
A decision to open an in-depth inquiry does not prejudge the final result of the investigation. The Commission has until August 8th to take a final decision on whether the proposed transaction would ‘significantly impede effective competition within the European Economic Area (EEA) or a significant part of it.’
