EC Approves Nokia's Acquisition of NAVTEQ

Nokia has received approval from the European Commission for its planned acquisition of NAVTEQ. With this, Nokia now has received all approvals for the purchase. The parties expect to close the deal within the next five business days.

"NAVTEQ will play a key role in our Internet services strategy with world-leading maps and navigation industry expertise, a strong customer base and industry-leading map data and technology platform offering the broadest geographical coverage," said Olli-Pekka Kallasvuo, President and CEO, Nokia.