Nokia completes sale of luxury brand Vertu

Nokia has sold its luxury phone unit Vertu, which makes gold-plated phones, to part of a private equity fund

Nokia has completed the sale of its luxury phone unit Vertu to private equity division EQT VI.

The Finnish operator will retain a 10 percent minority stake in Vertu, which makes gold-plated devices.

Approximately 1,000 employees will be transferred from Nokia to EQT VI because of the transaction, which was originally announced in June.