Nokia Close to Vertu Sale
Jun 13, 2012, 7:32 AM by Eric M. Zeman
Nokia is in negotiations with a private equity group called EQT concerning the sale of its Vertu unit. Vertu is Nokia's luxury phone brand, which sells bejeweled versions of Nokia handsets. Citing sources familiar with Nokia's plans, Reuters reports that Nokia expects to get about $249 million for the business unit. The deal hinges on Nokia's ability to separate Vertu from its existing phone business. Nokia has been shopping the Vertu unit around for some time. Reuters says the deal with EQT may close as early as this week.
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