Nokia has finished purchase of Navteq for 8,1 billion dollars
The Finnish cellular telephones Nokia manufacturer has finished the transaction on purchase of American cartographical company Navteq. As it is informed in the press release of the American company, cost of the transaction has made 8,1 billion dollars
The transaction between Nokia and Navteq has been declared on October, 1st, 2007. Nokia has paid 78 dollars cash for each Navteq’s share.
The transaction has met with approval of boards of directors of both companies, its end planned on I quarter of 2008, however, Eurocommission required additional investigation and detailed studying of the transaction to approve it.
Eurocommission was interested in the question, whether purchase of the American company would lead to the increase in cost of navigating systems for other companies, making the similar equipment and services for cellular telephones. Besides, it should find out, whether it would limit access of these companies to systems, that as a result, would negatively affect consumers.
