London, July 2, 2008—On October 1, 2007, Nokia announced its proposed acquisition of NAVTEQ Corporation for an aggregate purchase price of approximately $8.1 billion. The European Commission opened an in-depth Phase II investigation into the acquisition on March 28, 2008 but has today cleared the acquisition without any conditions.

The Shearman and Sterling team represented Nokia and was led by partners Chris Bright and Matthew Readings, and included associates Antonia Horrocks, Tom Bainbridge and George Milton. All are in the Antitrust Group, based in the London office.

For additional information contact:
Hayley Martin | London | 020 7655 5986 |