Amsterdam — TomTom, the navigation and mapping company, intended to remain independent but could work with other groups as it focused more on winning business from leading car makers, its chairman said on Tuesday. The Dutch group earlier reported better than expected first-quarter core earnings, despite a decline in sales. Speaking to investors at its annual meeting, chairman Peter Wakkie stressed that the company intended to remain independent but could work with other groups as it shifts away from the consumer market. That "doesn’t mean that TomTom is not open to partnerships of whatever kind: there is no objection to that from within TomTom, in principle", Wakkie said. But the company would only disclose new partnerships or deals once they became concrete, he said. In March, Reuters reported that TomTom had engaged Deutsche Bank to help seek a buyer for some or all of the company. After initially declining comment, TomTom said it had not mandated an adviser for a sale of the whol...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.