January 22, 2019 / 6:47 AM / 3 months ago

TomTom to sell Telematics unit to Bridgestone for $1.03 bln

AMSTERDAM, Jan 22 (Reuters) - TomTom, the Dutch navigation and digital maps company, said on Tuesday it has agreed to sell its Telematics, or the fleet data business, to Bridgestone for 910 million euros ($1.03 billion).

TomTom said it would return 750 million euros of the sales proceeds to shareholders via a capital repayment, which is not subject to dividend tax. (1 euro = $1.14) (Reporting by Toby Sterling; Editing by Shreejay Sinha)

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