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TomTom sells Telematics to Bridgestone for EUR 910 mln

2019-01-22 11:08:00| Telecompaper Headlines

(Telecompaper) TomTom has sold its Telematics division to tire manufacturer Bridgestone for EUR 910 million. Of the total, EUR 750 million will be distributed to shareholders by means of a capital repayment, as well as by share consolidation. The capital repayment will not be subject to Dutch dividend withholding tax. The sale is expected to close by the end of the second quarter, followed by the execution of the capital repayment and share consolidation in the third quarter.

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Category:Telecommunications

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