Navteq shareholders approve Nokia acquisition

Shareholders of digital mapmaker Navteq approved the company's acquisition by mobile phone maker Nokia by an overwhelming majority at a special meeting, an Associated Press report said.

The Associated Press report said the vote should clear the way for the $8.1 billion transaction to close shortly.

Antitrust regulators signed off on the deal last week, the report said.

Navteq produces maps and software found in car navigation systems, portable navigation devices and internet map sites the report said.

Nokia's purchase of the company reflects its interest in using more navigation software in its mobile phones and other products, the report added.

Navteq shares rose to close at $74.49 a share. Nokia shares, which have doubled since February, increased to $39.55.

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