Bucharest’s NetCity shared fibre network changes ownership

NetCity, a shared open access underground fibre-optic network serving Romania’s capital Bucharest, has changed ownership after UTI Group sold its controlling interest for an undisclosed fee to Direct One, a firm operating a national fibre-optic network which is owned by Romanian entrepreneurs Teofil Muresan and Simion Muresan. As reported by Broadband TV News citing local business daily ZF, NetCity’s Bucharest network currently consists of around 1,000km of fibre, whilst Direct One’s inter-city fibre infrastructure currently spans over 5,500km. NetCity, which operates under a licence issued by the Bucharest municipal authorities, reported a turnover of RON40.4 million (USD10.1 million) in 2015, up by 3% compared to a year earlier, whilst it posted a 33% rise in annual net profit to RON14.5 million, with debts standing at RON58.1 million.