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German regulator clears HERE stake purchases by Intel, NavInfo

Reuters
The logo of Intel is seen during the annual Computex computer exhibition in Taipei, Taiwan June 1, 2016. REUTERS/Tyrone Siu

DUESSELDORF, Germany (Reuters) - Germany's Federal Cartel Office said on Tuesday it had approved stake purchases in German digital mapping firm HERE by U.S. chip maker Intel (INTC.O) and China's NavInfo .

"The plan will not have negative consequences for competition," the antitrust regulator's President Andreas Mundt said.

Intel is taking a 15 percent stake in HERE, controlled by Germany's leading carmakers, who are seeking to build their presence in automated driving technology.

Last month, two Chinese companies including NavInfo, as well as Singapore's sovereign wealth fund GIC agreed to buy a 10 percent stake in HERE.

(Reporting by Matthias Inverardi; Writing by Maria Sheahan; Editing by Ludwig Burger)