Vertu sells its business for £50M

Vertu is a brand famous for its handmade phones with extraordinary design and tremendously high prices. Now the company changed its ownership for the third time since Nokia built it in the 90s specifically to cover a niche for devices with ostrich leather casing and titanium frames. The new owner is Hakan Uzan, a Turkish millionaire currently in exile and seeking an asylum in France.

Hakan Uzan is the latest owner of Vertu after he paid £50 million or about $61 million to Godin Holdings, previous owners of the phone company. He is controversial for his court cases against Nokia,…