Local Huawei subsidiary buys assets from UPC Romania

Romania’s Competition Council has approved the Huawei’s takeover of several assets and employees from UPC Romania. The Chinese firm will get employees and assets from UPC Romania for the maintenance service of fixed communications networks. Huawei entered the Romanian market in 2003. It mainly focuses on the trade of electronic and telecommunication components and equipment. In Romania, the company had a turnover of RON 1.2 billion (EUR 261 million) last year. Its net profit amounted to RON 36.7 million (EUR 8 million). UPC Romania, the local subsidiary of the US group Liberty Global, has almost 1,200 employees. Its turnover amounted to RON 597 million (EUR 130 million) last year, up 8% year-on-year. editor@romania-insider.com