Nokia Looks to Sell Vertu Brand for $265 Million [REPORT]
Nokia is in advanced talks to sell its UK-based luxury brand Vertu to private equity group Permira, the Financial Times reports citing sources familiar with the matter.
If the sale goes through, Nokia might raise some €200 million ($265 million).
Permira is a European private equity firm which advises funds with a committed capital of approximately €20 billion.
Vertu is a luxury brand which sells limited edition devices with prices as high as several hundred thousand dollars.
Those $265 million won’t save Nokia, but it will definitely come in handy for the Finnish giant, which recently reported a $1.8 billion loss for Q1 2012.
[via Financial Times]