diff --git a/openbsc/src/gprs/gb_proxy_main.c b/openbsc/src/gprs/gb_proxy_main.c
index f82fb5b..0c3cfbe 100644
--- a/openbsc/src/gprs/gb_proxy_main.c
+++ b/openbsc/src/gprs/gb_proxy_main.c
@@ -252,10 +252,6 @@
 	rate_ctr_init(tall_bsc_ctx);
 	osmo_stats_init(tall_bsc_ctx);
 
-	rc = telnet_init(tall_bsc_ctx, &dummy_network, OSMO_VTY_PORT_GBPROXY);
-	if (rc < 0)
-		exit(1);
-
 	bssgp_nsi = gprs_ns_instantiate(&proxy_ns_cb, tall_bsc_ctx);
 	if (!bssgp_nsi) {
 		LOGP(DGPRS, LOGL_ERROR, "Unable to instantiate NS\n");
@@ -274,6 +270,14 @@
 		exit(2);
 	}
 
+	/* start telnet after reading config for vty_get_bind_addr() */
+	LOGP(DGPRS, LOGL_NOTICE, "VTY at %s %d\n",
+	     vty_get_bind_addr(), OSMO_VTY_PORT_GBPROXY);
+	rc = telnet_init_dynif(tall_bsc_ctx, &dummy_network,
+			       vty_get_bind_addr(), OSMO_VTY_PORT_GBPROXY);
+	if (rc < 0)
+		exit(1);
+
 	if (!gprs_nsvc_by_nsei(gbcfg.nsi, gbcfg.nsip_sgsn_nsei)) {
 		LOGP(DGPRS, LOGL_FATAL, "You cannot proxy to NSEI %u "
 			"without creating that NSEI before\n",