Luxury mobile phone maker Vertu has been sold for £50 million, the company has been purchased by Baferton Ltd, which is a Cyprus registered company funded by Hakan Uzan.
Hakan Uzan is an exile from Turkey and he was previously found in contempt of court in the UK for not attending a trial between Nokia and himself, his family previous borrowed money from Nokia and Motorola to setup a mobile operator in Turkey.
Nokia actually created the Vertu brand and sold the company back in 2012 and it creates luxury handmade mobile phones that are expensive.
As yet there are no details on exactly what the new owner of Vertu has planned for the company, the previous owner, Godin Holdings owned the company for 18 months.
Source The Telegraph