TomTom plans fleet-management sale to focus on maps battle with Google

TomTom navigation are seen in front of TomTom displayed logo in this illustration taken July 28, 2017. REUTERS/Dado Ruvic/File Photo

AMSTERDAM: TomTom is considering selling its fleet-management business to concentrate on competing head-to-head with Google in car navigation software, it said on Sept 27. 

Shares in the Dutch company jumped by 17% to €7.25 (RM35.15) on the news, but that only recovered about half of the one-day loss suffered last week when Google announced a far-reaching supply deal with a group of carmakers including Renault, Nissan and Mitsubishi.