April 11, 2008 / 2:01 PM / 10 years ago

TomTom offers EU no merger remedies by deadline

BRUSSELS, April 11 (Reuters) - TomTom (TOM2.AS) offered EU competition regulators no remedies to resolve “serious doubts” over its planned 2.9 billion euro ($4.6 billion) purchase of digital map maker Tele Atlas TA.AS by a Thursday deadline.

    European Commission rules had given Dutch TomTom, the world’s biggest maker of car navigation devices, 65 working days to offer changes. Had it done so, the rules would have required an automatic 15-day extension for the Commission’s decision on whether to approve the deal. No such announcement was made.

    Tele Atlas shares have fallen on the news. (Reporting by David Lawsky; Editing by Dale Hudson)

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