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Financial Services Law Insights and Observations

Swedish Telecommunications Company Sets Aside $1.45 Billion for Global FCPA Resolution

Federal Issues FCPA International Bribery

Federal Issues

A Swedish telecommunications company disclosed in its Third Quarter Interim Report that it has set aside $1.45 billion to settle investigations conducted by Dutch and U.S. authorities regarding alleged bribery in Uzbekistan. The company disclosed that the authorities have proposed a global resolution that includes a financial sanction of $1.45 billion, although the company noted that further discussion and negotiation is necessary; the timing and amount of payment is uncertain at this time.

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