(Added Reuters report and market capitalization.)

 
By Carlo Martuscelli

TomTom NV (TOM2.AE) said Wednesday that it hadn't engaged a financial advisor to look for buyers, responding to rumors circulating in the market.

Reuters reported on Wednesday that the Dutch navigation-technology provider had engaged Deutsche Bank AG (DBK.XE) to assist with the sale of either the entire company or a partial stake, according to people close to the matter.

Potential buyers being considered included Asian investors, the sources told Reuters. The Amsterdam-listed company has a market capitalization of 1.74 billion euros ($2.15 billion).

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

March 29, 2018 01:53 ET (05:53 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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