The U.S. and Dutch authorities present proposed settlement amount
Sep 15, 2016
Thu, Sep 15, 2016 07:45 CET
The U.S. and Dutch authorities have since the spring of 2014 investigated historical transactions related to Telia Company’s entry into Uzbekistan in 2007. On the evening of 14 September, Telia Company received new information from the authorities with proposals from them for a settlement with the company. The information received was general and did not go into much detail but suggests a total settlement amount of approximately USD 1.4 billion which corresponds to approximately SEK 12 billion for all investigations.
“I have said on many occasions in the past that Telia Company’s entry into Uzbekistan was done in an unethical and wrongful way and we are prepared to take full responsibility. We are cooperating fully with the authorities to bring clarity to the matter. With that said, our initial reaction to the proposal is that the amount is very high. We will now have to analyze the information and decide on how to proceed with the ongoing discussions with the authorities,” says Telia Company’s Chairman Marie Ehrling.
Analyst and media telephone conference at 8.30 a.m. CET
Telia Company invites you to a conference call with Telia Company’s President and CEO Johan Dennelind, General Counsel Jonas Bengtsson and CFO Christian Luiga.
Dial-in number: +44 (0) 1452 555566 Access code: 83137312
You can also listen to the conference call afterwards until September 20, 2016. Replay number: +44 (0) 1452550000 Access code: 83137312
Telia Company AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instrument Trading Act. The information was submitted for publication at time 7:45 on September 15, 2016.
Stay up to date with the latest industry developments: sign up to receive TelecomTV's top news and videos plus exclusive subscriber-only content direct to your inbox – including our daily news briefing and weekly wrap.