Swedish Prosecutor Launches Proceedings Against Telia and Employees
September 22 2017 - 5:52AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Telia Company AB (TELIA.SK) said Friday that Swedish
authorities will prosecute a number of former employees and bring
legal proceedings against the telecom operator following the
company's deal to settle bribery allegations.
Telia agreed on Thursday to pay a total of $965 million in
penalties and fines to U.S. and Dutch authorities to settle
allegations that the company and a subsidiary paid about $331
million in bribes in Uzbekistan.
The total penalty amount also includes a $457 million
disgorgement to the Securities and Exchange Commission. The
Stockholm-based company entered into a deferred-prosecution
agreement in the U.S. charging the company with conspiracy to
violate the Foreign Corrupt Practices Act, which bars the use of
bribes to foreign officials to get or keep business. The subsidiary
pleaded guilty.
A year ago, U.S. and Dutch authorities had asked Telia to pay
$1.4 billion to settle the allegations.
The Swedish state owns 37.3% of Telia and Friday's move by the
Swedish Prosecution Authority sees charges filed against three
former employees.
"The Swedish Prosecution Authority...has today decided to
prosecute a number of former Telia employees," Telia said in a
statement. "The authority has also decided to initiate legal
proceedings against Telia Company for a disgorgement."
The company added that it will continue to consider all
possibilities to protect the rights and interests of the
company.
Samuel Rubenfeld contributed to this article.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@domchopping @WSJNordics
(END) Dow Jones Newswires
September 22, 2017 05:37 ET (09:37 GMT)
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