Local businessman sells 0.92% stake in Orange Romania

French Telecom group Orange bought last year a 0.92% stake in its Romania subsidiary from a minority shareholder, the local investor Gabriel (Puiu) Popoviciu, according to Ziarul Financiar. Orange increased its stake to 97.74%, according to its report. Romanian billionaire and real estate investor Popoviciu sold shares through his Cyprus-based company Tatika Investments. Tatika has now a 0.92% share in Orange Romania, compared to 1.8% last year. The acquisition was signed in March 2014 and exceeded EUR 10 million, according to market sources, cited by local Ziarul Financiar. Orange Romania is the country's largest mobile carrier. The company had a net profit of EUR 111 million and sales of EUR 967 million, in 2013. It is one of the ten most valuable companies in Romania. Last year, Popoviciu was sent to court by the anti-corruption prosecutors in Romania for having developed the Baneasa real estate project – including the mall – on a 224 – hectare plot owned by the state. RISE Project: Romanian billionaire Popoviciu owns apartments in NY while facing trial and asset seizure at home Orange Romania’s revenues decline by 2.7%, but client base increases editor@romania-insider.com