LuxGSM to change name in June; EUR1bn cash boost imminent

26 Apr 2013

Luxembourg-based mobile operator LuxGSM has revealed that it is set to change its name following a planned restructure which will see 50 new staff recruited. Olivier Mores, communications chief for LuxGSM’s 85% majority shareholder P&T Communications, told online journal wort.lu that the foregrounded GSM aspect of its brand no longer offers an accurate representation of the type of services offered by the firm. He said: ‘We are reorganising our LuxGSM services, which no longer correspond with just GSM services. Today we are selling smartphones, and everything related to telecommunications such as internet and television’. The new brand is set to be revealed in June and forms part of a wider restructuring process, which will see a boost to the group’s 4,000-strong workforce, and a EUR1 billion (USD1.3 billion) cash injection between now and 2020.

Luxembourg, Post Luxembourg (formerly LuxGSM)