Monday, 30 April 2012

Nokia close to selling Vertu for 200 million euro


At the end of last year, Nokia was reportedly looking into selling Vertu to raise funds and help focus the company, which is still in transition. Now, the Financial Times says that the deal is nearing completion. The purported buyer is Permira, a British private equity group, who are reportedly willing to shell out €200 million ($265 million) for the luxury phone maker. Neither Vertu nor Permira have confirmed the deal.

Another equity group, EQT, are also said to have been interested in Vertu, but according to the Financial Times these negotiations aren't going anywhere.

If you were hoping for a WP-powered Vertu phone, this is probably not good news. But considering the precious metal plated phones mostly ran S40 (aside a couple of Symbians), the luxury niche of Vertu doesn't really mesh very with Nokia's Microsoft-centric strategy.