A PYMNTS Company

Germany: Regulator clears HERE stake purchases by Intel

 |  January 24, 2017

Germany’s Federal Cartel Office said on Tuesday it had approved stake purchases in German digital mapping firm HERE by US chip maker Intel and China’s NavInfo.

“The plan will not have negative consequences for competition,” the antitrust regulator’s President Andreas Mundt said.

Intel is taking a 15 percent stake in HERE, controlled by Germany’s leading carmakers, who are seeking to build their presence in automated driving technology.

Last month, two Chinese companies including NavInfo, as well as Singapore’s sovereign wealth fund GIC agreed to buy a 10 percent stake in HERE.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.