VimpelCom $900 Million Bribe Provision Is Gauge for Rivals
- Sweden's TeliaSonera yet to receive any indication of fine
- U.S., Dutch authorities probing carriers' Uzbek businesses
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VimpelCom Ltd.’s $900 million provision to cover possible U.S. and Dutch fines over bribery allegations in Uzbekistan is the first indication of what may lie ahead for rivals TeliaSonera AB and Mobile TeleSystems PJSC, which also face investigation for their phone businesses in the former Soviet republic.
VimpelCom set aside almost twice its Uzbek earnings before interest, taxes, depreciation and amortization last year. Dutch, Swedish, Swiss and U.S. authorities have spent years probing graft allegations connected to the three European phone companies’ contract wins in Uzbekistan.