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TomTom COO says not aware of Microsoft interest

Time: 00:49 EST/05:49 GMT | News Source: Reuters | Posted By: Kenneth van Surksum

Dutch navigation systems company TomTom said on Tuesday it was not aware that Microsoft was interested to buy the company.

"That's news to me. I haven't heard about it," TomTom Chief Operating Officer Alexander Ribbink told Reuters.

TomTom shares, which floated in Amsterdam in May 2005, were up 4.7 percent at 31.94 euros by 1441 GMT. The shares rose as much as 5.5 percent on takeover talks before TomTom said it was not aware of any interest.

TomTom, which makes portable navigation devices for cars and mapping software for handheld computers, forecast 2006 sales of 1.1 billion to 1.3 billion euros, targeting an operating margin of 20 percent.

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