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Nov 28, 2007

EU Lauches Probe Into TomTom-Tele Atlas Deal

The European Union has opened a detailed probe of Dutch technology group TomTom's takeover of Dutch firm Tele Atlas, RTE' Business reported today, citing concerns the deal could stifle competition in the market for personal navigation devices:

The European Commission said it would rule by mid April whether to allow the €2.9 billion takeover of Tele Atlas, a leading maker of digital maps, by TomTom, which makes portable navigation devices.

The European Union's top competition watchdog said it had 'serious doubts' the deal would 'lead to a significant impediment to effective competition.'

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