Telia Says U.S., Dutch Propose $1.4 Billion Uzbek Settlement
- Could be largest fine ever under U.S. foreign corruption act
- ‘Amount is very high,’ Telia weighing options, chairman says
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Telia AB said U.S. and Dutch authorities have proposed a $1.4 billion fine to settle allegations the Swedish carrier paid bribes to win business in 2007 when it entered the former Soviet republic of Uzbekistan.
The proposal didn’t go into much detail, Telia said in a statement on Thursday. The company will analyze the offer and decide how to respond as it continues discussions with authorities, it said. On a conference call, Telia executives said they haven’t changed the company’s dividend policy, though they wouldn’t rule out cutting the payout in the future.