Nokia’s luxury brand Vertu has attracted interest from private equity firm Permira, the Financial Times wrote with reference to people familiar with the process. According to the article the parties are in advanced talks, and Nokia could receive around…
Nokia’s luxury brand Vertu has attracted interest from private equity firm Permira, the Financial Times wrote with reference to people familiar with the process. According to the article the parties are in advanced talks, and Nokia could receive around €200m for the asset.
First reports that Nokia had hired Goldman Sachs for a sale of Vertu appeared in early December last year.
EQT, another PE group, had also been in discussions with Nokia, today’s FT report stated, but talks are currently stalled.
UK based Vertu manufactures luxury mobile phones that can sell for up to £200,000 due to the use of precious metals in the product.
A spokesperson for Nokia refused to comment, referring to company policy.
