Saturday, 23 June 2018

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…

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