Nokia to file Navteq submission with EU in 2 weeks

Thu Feb 7, 2008 5:30am EST
 
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HELSINKI, Feb 7 (Reuters) -Nokia (NOK1V.HE), the world's top cellphone maker, will file within two weeks documents to win European regulatory approval of its $8.1 billion acquisition of Navteq NVT.N, the U.S. digital mapping firm said.

"Completion of the merger is subject to the receipt of European regulatory approval. Nokia is expected to file its Form CO with the European Commission within the next one to two weeks," Navteq said in a statement.

Form CO is the technical term for the notification, describing in detail all the information required.

The takeover was cleared in December by the Committee on Foreign Investments in the United States, Navteq said.

Nokia expects the deal -- part of its major shift towards Internet services -- to be closed this quarter.

The European Commission has 25 working days after a deal is filed to review it. Most mergers win approval. (Reporting by Tarmo Virki)

 

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