Local company Direct One is currently in negotiations to buy the company Netcity Telecom from the UTI group.

Netcity Telecom owns Bucharest’s fiber optics network.

Romanian investors Teofil Muresan and Simion Muresan own Direct One whereas the UTI group is controlled by local investor Tiberiu Urdareanu.

Several investors have been interested in buying Netcity Telecom including telecom company RCS & RDS and cable operator UPC, as well as the investment fund CEE Equity Partners.

The sale is estimated at EUR 30-35 million, according to market sources cited by local Mirsanu.ro.

In November last year, the owner of the UTI group Tiberiu Urdareanu admitted to charges of bribery, during the hearings at the headquarters of the National Anticorruption Directorate DNA. UTI has won many public tender contracts.

editor@romania-insider.com