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UPDATE 1-EU extends review of TomTom's Tele Atlas purchase

Fri Mar 28, 2008 5:31am EDT

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(Adds company statement)

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BRUSSELS, March 28 (Reuters) - The European Commission said on Friday it had extended the deadline for its decision on car navigation device maker TomTom's (TOM2.AS) planned merger with Tele Atlas TA.AS by 10 working days to May 21.

Dutch-based TomTom said it remained confident that the talks with the Commission, the European Union's top competition authority, "will lead to clearance of the proposed transaction".

Commission spokesman Jonathan Todd said the date had been extended from May 5. The parties involved agreed the move "would be useful", he said.

TomTom initially announced the delay in a statement late on Thursday.

In its announcement, TomTom said it had extended the period for its recommended cash offer for all shares of Tele Atlas until 1300 GMT on May 30.

"The outcome of discussions with the European Commission on obtaining clearance for the proposed acquisition ... will not be completed prior to 31 March, 2008, the end of the current accepted period," the company statement said. (Reporting by David Lawsky in Brussels and Niclas Mika in Amsterdam, editing by Will Waterman)

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