Nokia’s close scrutiny by the European Commission continues, as the company’s pending acquisition of NAVTEQ comes under further review in Phase II of the pre-purchase inquiry.  Nokia is keen to point out that the review process does not necessarily suggest that the Commission will oppose the buy-out, which has otherwise received all other necessary regulatory approvals.

The Commission now has 90 working days to make a final decision on the transaction.  However, the review period may be extended to 125 working days under certain circumstances.  The completion of the acquisition is subject to the receipt of European regulatory approval.