Divestment of Vertu to EQT VI completed by Nokia.


Nokia has reported in a press-release that it has completed its divestment of Vertu, the global leader in luxury mobile phones, to EQT VI. It was valued at an estimated €200 million (~$249 million). This transaction was originally announced on June 14, 2012.  As part of the transaction, approximately 1,000 employees have been transferred with Vertu. Nokia retains a 10% minority shareholdings in Vertu.

Now, TechCrunch is reporting from sources that Anssi Vanjoki, the 20-year Nokia veteran who resigned back in 2010, will be named the new CEO of Vertu. Reports say that he resigned from Nokia because of Elop’s appointment as CEO, ignoring him in the process. Their sources also report that new Vertu phones will run Android, as opposed to Windows Phone 8.

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About Kamal

Blogging is my major hobby. Huge Nokia fan and have been using mostly Nokia phones since my first one. Hope you have a great reading time on this blog!! Be in touch @nokiapoweruser on Twitter.

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