The Telegraph state: Turkish exile snaps up smartphone maker Vertu for £50m

South East Muhammad AldalouHampshire-based luxury smartphone maker Vertu has reportedly been acquired in a multimillion-pound deal. According to The Daily Telegraph, Vertu has been sold to Baferton Ltd, a Cyprus-registered vehicle funded by Turkish businessman Hakan Uzan, for approximately £50m. Godin Holdings, based in Hong Kong, purchased Vertu less than 18 months ago from private equity firm EQT. The company, which was set up by Nokia in the late 1990s and makes handsets costing up to £40,000, was sold by its Chinese owner Godin Holdings. A spokesman for Hakan Uzan described Vertu as "a powerful brand with an acknowledged market niche", adding that he was looking forward to working with the team and providing the investment to "enable Vertu to realise its full potential".

Luxury smartphone maker 'sold in £50m deal'

South East Muhammad AldalouHampshire-based luxury smartphone maker Vertu has reportedly been acquired in a multimillion-pound deal. According to The Daily Telegraph, Vertu has been sold to Baferton Ltd, a Cyprus-registered vehicle funded by Turkish businessman Hakan Uzan, for approximately £50m. Godin Holdings, based in Hong Kong, purchased Vertu less than 18 months ago from private equity firm EQT. The company, which was set up by Nokia in the late 1990s and makes handsets costing up to £40,000, was sold by its Chinese owner Godin Holdings. A spokesman for Hakan Uzan described Vertu as "a powerful brand with an acknowledged market niche", adding that he was looking forward to working with the team and providing the investment to "enable Vertu to realise its full potential".

Turkish exile snaps up smartphone maker Vertu for £50m

Source: The Daily Telegraph | Image: The Daily Telegraph Vertu, the luxury smartphone maker, has been bought by a compamy registered in Cyprus called Baferton, for £50m ($61m). Baferton is owned by Hakan Uzan, a Turkish exile who has been involved in several legal controversies regarding Nokia, Motorola and Donald Trump. Hakan Uzan, and other members of the Uzan family, have been at the centre of much controversy. Vertu was then sold to Chinese investment company Godin Holdings in 2015, before Uzan then purchased the smartphone manufacturer, according to the Daily Telegraph.


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