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Telia balks at USD 1.4 bln settlement in Uzbekistan probe

2016-09-15 08:43:00| Telecompaper Headlines

(Telecompaper) Telia has received proposed settlement from US and Dutch authorities over investigations into its activities in Uzbekistan that would cost the company around USD 1.4 billion (SEK 12 billion). The company has been under investigation since the spring of 2014 over suspected bribery in obtaining its licence in Uzbekistan. Telia said it received new information from the authorities with proposals on a settlement. The information did not go into much detail, but suggests a total settlement amount of approximately USD 1.4 billion for all investigations. Telia chairman Marie Ehrling said in a statement that the company was prepared to take full responsibility for the "unethical and wrongful way" in which it entered the Uzbekistan market. However, "our initial reaction to the proposal is that the amount is very high", she said. The company will consider the information from the Dutch and US prosecutors before decide how to proceed in negotiations.

Tags: usd settlement probe uzbekistan

Telia asked to cough up $1.4bn to settle Uzbekistan probe

2016-09-15 02:00:00| Total Telecom industry news

Sweden-based operator surprised by size of settlement proposed by U.S., Dutch authorities.

Tags: asked probe uzbekistan settle

Volkswagen engineer charged in emissions probe

2016-09-09 18:14:36| BBC News | Business | UK Edition

A Volkswagen engineer has pleaded guilty for his involvement in the German carmaker's diesel emissions scandal.

Tags: charged engineer probe volkswagen

Musk: SpaceX fireball probe uncovering 'complex failure'

2016-09-09 11:43:36| BBC News | Business | UK Edition

An investigation into how a SpaceX rocket exploded on the launchpad is uncovering 'the most difficult and complex failure we have ever had in 14 years' says founder Elon Musk.

Tags: complex failure probe musk