Three Rotterdam based subsidiaries of Swedish telecom giant Telia have agreed to pay $274m in an out of court settlement for bribing government officials and keeping inaccurate books and records.
The fine relates to the company’s efforts to gain access to the Uzbek telecom market, during which officials paid bribes to the eldest daughter of the former president of Uzbekistan via its Dutch subsidiaries, the public prosecution department said. The deal covers the period 2007 to 2010.
Telia has also reached settlements with the US department of justice and the US securities and exchange commission. In total, the company has agreed to pay $965m to settle the charges.
The Netherlands considers the fine as ‘appropriate’, the Dutch prosecutor said in a statement. ‘It is a punishment that hurts, and it does justice to the significance of the acts committed as well as to the disruption these acts caused to the legal order. The parallel [US] government action against corruption demonstrates that corruption is tackled internationally.’
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