Nokia expected to complete Navteq acquisition soon

Mobile phone maker Nokia has said that they are closing in on completing the acquisition of navigation group Navteq.

The company has received clearance from the regulatory bodies in Brussels for this acquisition.

They said in a statement: “Nokia has now received all approvals for the purchase and expects to close the deal within the next five business days.”

The European Commission too has given its blessings to this deal.

Nokia chief Olli-Pekka Kallasvuo added: “Navteq will play a key role in our Internet service strategy.”

Navteq Chief Judson Green had this to say: “We believe Navteq will be better positioned to serve all our customers under Nokia ownership.”