Nokia is planning to sell its luxury phone brand Vertu in a bid to free up some of its assets, with a deal with Swedish private equity group EQT Partners reportedly close to being finalised.
Vertu, which manufacturers the world's most expensive mobile phones, could be sold for as much as 200 million (around $250 million).
However, commentators claim the success of the deal relies on Nokia's ability to carve Vertu's operations out of its business.
Money matters
Sources claiming to be familiar with the matter say talks are still in progress, with a resolution expected as early as as next week.
Interest had reportedly previously been shown by fellow private equity group Permira, however, though the deal fell through for undisclosed reasons.
It's believed Vertu's sale is designed to get cash flowing through Nokia's business, with the Finnish manufacturer recently releaved of its position as the world's largest mobile manufacturer by rival Samsung having invested large sums of its reserves in switching focus from Symbian and MeeGo to Windows Phone.
Vertu's handsets are not a mass market proposition handsets costing more than $300,000 on occasion - making the sell off a logical one, though Nokia has so far declined to comment.
[source: Reuters]
Nokia looking to selling luxury brand Vertu for 200 million euros
Private equity group EQT Partners interested

Don't miss out on Pocket Gamer Connects Toronto, July 6-7! Network with 750 industry professionals and be inspired by some of the world's leading brands in games. BOOK NOW and save up to CA$220 before prices rise at midnight on Thursday, June 30.
Comments
Login to to leave a comment Or click here to register
Forgot password?
Password Reset
To reset your pass, please enter your email below and submit. Your new password will then be emailed to you.
You can change this pass at any time on the "edit profile" link when logged in.
Got your password?