Telia Asked to Pay $1.4 Billion in Bribery Probe

From MarketWatch

U.S. and Dutch authorities are asking Swedish telecom carrier Telia Company AB to pay $1.4 billion to settle allegations it distributed hundreds of millions of dollars in bribes to secure business in Uzbekistan – the latest move by American prosecutors to target what they say are the spoils of corrupt practices overseas.

Telia, which is partly owned by the Swedish government, has said it was cooperating with the probes and has acknowledged shortcomings. Chairwoman Marie Ehrling on Thursday said the company's entry into Uzbekistan "was done in an unethical and wrongful way, and we are prepared to take full responsibility."

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