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TomTom wins EU OK for Tele Atlas bid



By AP
14 May 2008 @ 05:27 am EST

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NVT 77.97 -0.01

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In November, after TomTom had increased its initial offer price for Tele Atlas by almost 50 percent. Garmin signed a long-term deal with Navteq guaranteeing access to its maps for the coming decade, and neatly dropped out of the bidding.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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