TomTom receives takeover bids from CVC, Cinven, Silver Lake
The Netherlands-based navigation specialist TomTom [AMS:TOM2] has received acquisition bids from investment companies CVC Capital Partners, Cinven and Silver Lake, the Dutch daily De Telegraaf reported, based on an article by TMT Finance.
TomTom received the bids while it is still exploring the sale of its Telematics division, sources familiar with the matter told TMT Finance, the report said.
TomTom declined to comment, stating however, that the company is not considering a complete sale at the moment, the report added.
Rumours about a possible sale of TomTom have been circulating for some time now. TomTom CEO Harold Goddijn was recently quoted as saying he does not rule out that TomTom could be taken over by another company once the Telematics division is sold.
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