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Looking to strengthen its balance sheet in the face of growing losses and debt rating...

  • Sunday, April 29, 2012, 10:59 PM ET
    Looking to strengthen its balance sheet in the face of growing losses and debt rating downgrades, Nokia (NOK) is in advanced talks to sell its Vertu luxury phone brand to P-E firm Permira for ~€200M ($264M), the Financial Times reports. Vertu, known for extravagant models such as its $88K Diamond phone, is estimated to have annual sales of €200M-€300M. (also)
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This news story has 5 comments:

  •  
    losers
    29 Apr 2012, 11:05 PM Reply Like
  •  
    yokyok, maybe you've been in long, but I got in last week, and a $200 million sale will more than cover their 7% dividend around $100 mil, PLUS they've got $15Billion in cash anyway.

    Nokia made the best high and low end 10 years ago, they can recover the low end, and when the stock goes up at it's current junk rating, that makes US winners.
    30 Apr 2012, 04:50 AM Reply Like
  •  
    but they have 8 bn in financial dewbt - so net it's 6,6 bn USD and then they have negative free cash flow of 800mm as Mr Elop's strategy proves to be an accelerator for great value creation for shareholders!
    ELOP GO HOME YOU HAVE REDUCED NOKIA TO A SHIPWRECK! SHAME ON YOU!!
    30 Apr 2012, 07:16 AM Reply Like
  •  
    Good start.

    Now eliminate the dividend and all Symbian related staff and we'll be really getting the "take down Apple" ball rolling.
    30 Apr 2012, 08:16 AM Reply Like
  •  
    Symbian itself has been already sold to Accenture. Now they only need to shut the production line and go full speed with Lumia, those 900 are in high demand now, man!
    30 Apr 2012, 10:03 AM Reply Like
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