March 19th, 2010

Pannon GSM to take name of parent Telenor

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Pannon GSM, Hungary’s second-biggest mobile communications service provider, is taking the name of its parent company Telenor, Pannon GSM CEO Anders Jensen said at a press conference on Thursday.

The name change will take place over the next three months, Mr Jensen said, answering a question.

Pannon GSM’s operating costs were HUF 54bn in 2009, but the unit will make cost savings of HUF 3bn-4bn in 2010, he said. Some of this money will be spent on the name change, he added.

Telenor has owned a stake in Pannon GSM since its establishment in 1994. Later, it became the company’s sole owner.

Telenor has about 174m subscribers world wide.

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