Here sale prompts TomTom to consider options - report

Nieuws Mobiel Nederland 4 AUG 2015
Here sale prompts TomTom to consider options - report
Dutch mapping and navigation group TomTom is exploring options for a possible sale, after Nokia's sale of its Here division attracted interest from buyers, people familiar with the matter told Bloomberg. TomTom, which has a market capitalisation around USD 2.5 billion, is speaking to possible advisers about a sale, but no formal process has started yet, and TomTom may decide against pursuing a sale and instead focus on investments, the report said. 

"We're not talking to anybody about a sale," Richard Piekaar, a spokesman for TomTom, said. The day Nokia announced the sale of Here, shares in TomTom rose as much as 11.2 percent to their highest intraday price since 2009, before closing up 2 percent at EUR 10.05. 

Categories:

Mobiel

Companies:

Nokia,  TomTom

Regions:

Wereld

Countries:

Nederland

Tags:

Consumer devices, Location Based Services, M&A buyouts & divestments

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