Yesterday morning, 26 September 2016, Telecom Luxembourg Private Operator (TLPO) announced that the District Court of Luxembourg has approved the request that the company be placed under controlled management.
Controlled management is a protection policy that aims to allow a business to implement all or some of its assets in the best possible conditions whilst also continuing to provide services to its clients.
Yesterday, the court and TLPO’s main provider announced their support for the implementation of this policy. As of now, Luxembourg’s first private operator will be able to continue negotiations with several potential candidates who can help the company fully or partially recover without added stress. Throughout the many discussions which will take place in the coming weeks, TLPO’s management is committed to putting everything in place in order to best preserve the interests of its clients and providers.
The court’s decision is also good news for Luxembourg’s market, since TLPO is the country’s first active private operator both nationally and internationally. Among the company’s many clients are those from financial institutions feature Datacentres, Housing and Outsourcing.
