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Technology Stocks : Nokia (NOK)

NOK 6.495

-4.3%

3:59 PM EST

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From: Lahcim Leinad	4/29/2012 5:18:19 PM
	Read Replies (1) of 34857

Nokia in talks to sell Vertu to Permira - FT.com Permira is in discussions to acquire Vertu in a deal that will raise about €200m for Nokia, which is better known for its once-dominant mass market phone ranges. It would add to the private equity firm’s portfolio of luxury and tech brands such as Hugo Boss and Valentino. UK-based Vertu is an independently managed luxury subsidiary launched by Nokia in 1998 to tap into growing demand among the world’s wealthy for a status symbol to match similarly upmarket watches or wallets. The phones are made by hand, and can cost more than £200,000 due to the precious metal components.

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