Tuesday, 06 December 2016

Vimpelcom admits to corruption in Uzbekistan, will pay fines

By Mary Lennighan, Total Telecom
Wednesday 17 February 16

Russian-owned telco reaches settlements with U.S., Dutch authorities that acknowledge violations of corruption practices; Telenor 'takes it very seriously'.

Vimpelcom on Wednesday admitted to having violated anti-corruption laws with regard to its business in Uzbekistan and said it will pay fines totalling an as-yet undisclosed sum. The U.S. Department of Justice, the Securities and Exchange Commission and the Dutch Public Prosecution Service, or Openbaar Ministerie, have been conducting investigations into the telco's Uzbekistan operations and its dealings with an entity known as Takilant for the past two years…

Vimpelcom on Wednesday admitted to having violated anti-corruption laws with regard to its business in Uzbekistan and said it will pay fines totalling an as-yet undisclosed sum. The U.S. Department of Justice, the Securities and Exchange Commission and the Dutch Public Prosecution Service, or Openbaar Ministerie, have been conducting investigations into the telco's Uzbekistan operations and its dealings with an entity known as Takilant for the past two years…

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