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VimpelCom reaches USD 795 million settlement agreement with US and Dutch Authorities

Via Telenor Media Center

Feb 19, 2016

VimpelCom Ltd., in which Telenor ASA currently holds a 33% stake, has today announced that the company has admitted FCPA violations and reached a settlement agreement with US and Dutch authorities after investigation relating to VimpelCom’s business in Uzbekistan and prior dealings with Takilant Ltd.

Published: 18 February 2016

As part of the settlements, VimpelCom will pay USD 795 million in fines and disgorgements to US and Dutch authorities, and retain an independent corporate monitor for at least three years.

Corruption is unacceptable and it is very serious that VimpelCom now has admitted to violations of the US Foreign Corruption Practices Act and relevant Dutch Laws.

Telenor has fully cooperated with investigating authorities as a witness.

The fines are within the provision that VimpelCom has previously made for this purpose.

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