Direct One to acquire Netcity Telecom
Direct One S.A. is due to acquire control of Netcity Telecom, the operator of an underground fiber optic network in Bucharest, following the signing of a sale and purchase agreement with UTI Netcity Investment BV and UTI Grup SA, entities which own 100 per cent of the telecom operator equity 2016-09-01 15:56:06
In this transaction, all of the target shares will be acquired by Direct One, an independent and neutral provider of fiber optic infrastructure for telecommunications, which is controlled by the Romanian entrepreneurs Teofil and Simion Mureșan. Direct One operates a national network of aerial fiber optics which exceeds 5,500 km and ensures long distance connectivity between cities. The transaction is subject to approval by the Romanian Competition Council.
"We are delighted by the prospect of this acquisition which allows a company owned 100% by Romanian entrepreneurs to expand on the national market for telecom infrastructure. Our wish is to serve the needs of all telecom operators in a transparent and uniform manner and we hope to be able to expand the network in a way which is both economically viable and compliant with relevant legislation", mentioned Marian Pantazescu, Chairman of Direct One's Board of Directors.
Netcity Telecom is the operator of the namesake network, being charged with designing, building and operating Netcity following the signing, in 2008, of a 49-year concession agreement with the Bucharest municipality. The network provides canalization for fiber optics over a total length of about 1,000 km ensuring access for telecom operators offering services throughout Bucharest.
KPMG was the financial advisor to the sellers of Netcity. Bogdan Vaduva, M&A Partner with KPMG, said: "We are really proud to have successfully lead the process as it is one of the most important transactions in the local telecom industry in the last decade".
Financial and tax advisory to buyers has been provided by PwC Romania. Legal assistance to buyers has been provided by Tuca, Zbarcea si Asociatii, while the sellers had legal support from Leaua&Asociatii.
|
|
| |
|
Daily Info |
Smart city is not a fad, it's a necessity In June 2018, the ranking of the most "smart" cities in the world was published. In other words, the most advanced cities in terms of human capital, social cohesion, the econo... |
Ondrej Safar, CEZ Group: "Romania can become a hub for international smart solutions providers" "We are already in the digital age, so the upward trend of implementing smart solutions is inevitable in all areas," he tells The Diplomat-Bucharest. "Especially in terms of u... |
Telekom Romania, a strong supporter of Smart City development in Romania Just like many other countries in the world Romania is now facing an unprecedented growth of the urban population, which can be both beneficial and detrimental for the society... |
In the industrial era, the fight was for finite material resources. Not anymore Now organizations fight and develop themselves for and around their talent.
In a nutshell, getting ahead in today's business world is all about attracting and inspiring an e... |
Richard Sareczky, Mol Limo: "We look at expansion locations across CEE including Romania" Consumer mobility behaviour is changing, leading to up to one out of ten cars sold in 2030 potentially being a shared vehicle and the subsequent rise of a market for fit-for-p... |
|
|
|
|
|
|
|
|
advertising
advertising
advertising
|
More on News |
President Iohannis urges Romanians to be more united, stay involved in modernizing Romania Romania's President Klaus Iohannis urged Romanians in France to be more united and stay involved as much as they are now in helping modernise Romania. |
OTP Bank Romania signs investment funds distribution deal with Eurobank Fund Management Luxembourg OTP Bank Romania signed a partnership with Eurobank Fund Management Company (Luxembourg) for the distribution of investment funds in Romania. Thus, from December 1st, OTP B... |
Fondul Proprietatea expresses disappointment over Engie listing rejection Fondul Proprietatea is disappointed with the decision taken by the majority shareholder of Engie SA, Romania Gas Holding B.V., to oppose the listing of the company, accordi... |
Europe must become a producer of new technologies, not just a consumer of technologies, says EC Europe must become a producer of new technologies, not just a consumer of technologies, said Gerard de Graaf, Director for the Digital Single Market in Directorate-General ... |
FDI in Romania rises 10 per cent after ten months in 2018 Non-residents' direct investment in Romania (net FDI) totaled 4.56 billion Euro in January-October 2018, around 10 per cent more compared to the same period of 2017, Romani... |
Catrina, MCSI: Romania is ready to roll up its sleeves and work during the presidency of the EU Council Romania is ready to roll up its sleeves and work during the presidency of the Council of the European Union (EU), said Maria Manuela Catrina, State Secretary at the Ministr... |
Two billion youth risk of being left behind in the Fourth Industrial Revolution workforce, says Deloitte Almost two billion youth worldwide risk of being left behind in the Fourth Industrial Revolution (Industry 4.0) workforce, which is changing at an increasingly rapid pace a... |
|