Geo Networks – the UK fiber provider famed for having a network that runs through London’s sewer system - could be sold under a deal expected to change hands early next year.

According to the Financial Mail on Sunday, the company’s owner Alchemy Partners has hired financial advisors Arma Partners, which specialises in the technology industry, to draw up the terms of the sale.

It said – quoting unnamed sources – that Geo could be valued at up to £200m.

Geo Networks has more than 3,000km of fiver across the UK.

The company launched in 2004 and built up its network following the purchase of Urband, which had a metropolitan fiber network covering 80km in London based in the city’s sewer system.

Alchemy purchased Geo Networks in March 2008 from its previous owner Hutchison Whampoa for £62m. At the time its network spanned 2,500 km.

Geo currently connects a number of UK data centers, including Virtus’ Enfield site, C4L, Interxion and iomart’s facilities.