PE Targets Luxury Cellphone Vertu


May 3, 2012

The FT reports this week that Permira is in discussions to acquire Nokia’s UK-based Vertu brand cellphone company for about EUR 200 million, citing unidentified sources. The Vertu phones tout handmade craftsmanship and precious metal and gem trimmings, as well as high-end value added services and owner privileges. The PE firm is building a portfolio of luxury and tech brands such as Hugo Boss and Valentino, according to the report. EQT has also been eyeing Vertu, it said. (Image source: Vertu website)

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