Tuesday, 12 December 2017

Uzbekistan settlement to cost Telia close to $1bn

By Mary Lennighan, Total Telecom
Friday 22 September 17

Swedish operator's CEO says financial penalties are a 'painful reminder' of what happens when a company does not 'do the right thing'

Telia has reached a settlement with U.S. and Dutch authorities over its dealings in Uzbekistan that will see it pay a financial penalty approaching US$1 billion. The Sweden-based telco group will pay fines and disgorgements to the U.S. Department of Justice (DoJ), the Securities and Exchange Commission (SEC) and the Dutch Public Prosecution Service totalling $965 million after the various authorities ruled that its conduct in Uzbekistan contravened international corrupt practices legislation…

Telia has reached a settlement with U.S. and Dutch authorities over its dealings in Uzbekistan that will see it pay a financial penalty approaching US$1 billion. The Sweden-based telco group will pay fines and disgorgements to the U.S. Department of Justice (DoJ), the Securities and Exchange Commission (SEC) and the Dutch Public Prosecution Service totalling $965 million after the various authorities ruled that its conduct in Uzbekistan contravened international corrupt practices legislation…

Please login or register to view this content

Please enable JavaScript to view the comments powered by Disqus.

Newsletter signup

Quickly get on board and up to date with the telecoms industry