Finnish vendor Nokia has reportedly appointed Goldman Sachs to oversee the sale of UK luxury handset brand Verdu.
Although talks are at a very early stage, PE firms have already expressed interest in the company, which sells some of the most expensive…
Finnish vendor Nokia has reportedly appointed Goldman Sachs to oversee the sale of UK luxury handset brand Verdu.
Although talks are at a very early stage, PE firms have already expressed interest in the company, which sells some of the most expensive phones in the world, reported the Financial Times citing a source.
Verdu has yet to be given a value, and the report added that luxury goods brands could also be interested in the company. Nokia does not disclose Vertu’s financial details, but reports estimate it to generate revenues of €200m-€300m (US$268m-$402m).
Both Nokia and Goldman Sachs declined to comment. Other reports suggest a sale is not yet certain.
The Finnish firm has been facing increasing pressure from US smart phone rivals Apple and Google. When CEO Stephen Elop took Nokia’s helm earlier this year he pledged a far-reaching restructuring to enable the group to compete more effectively.
