TomTom could be on radar of Daimler, Audi, and BMW
Daimler, Audi, and BMW, the three German vehicle groups, might be interested in acquiring Netherlands-based navigation system specialist TomTom, Der Aktionaer suggested. The magazine based its report on an unconfirmed report published by German newspaper Sueddeutsche Zeitung. Second-level managers of the German vehicle groups recently travelled to the TomTom headquarters and that talks regarding a due diligence have already been held, the article claimed.
When confronted with the rumours, Alain de Taeye, the chief executive of TomTom, merely said that his company naturally talks with its automotive customers about their respective plans for the future, but made clear that he cannot comment on strategic interests of the vehicle groups.
TomTom has a market cap of approximately EUR 2.3bn. Audi is part of German vehicle group Volkswagen.
The original article was published in this week’s print copy of Der Aktionaer on page 30 (“Aktien” section).
Der Aktionaer