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Ericsson Nears U.S. Bribe Settlement That Could Cost More Than $1 Billion

  • Head of U.S. criminal prosecutions flags an imminent deal
  • DOJ, SEC investigation involved contracts in six countries
Updated on

Ericsson AB is nearing a resolution of a long-running U.S. corruption investigation, according to two people familiar with the matter, a deal that could cost the telecommunications equipment maker more than $1 billion.

Such an agreement, which the people said could be announced this week or next, would end probes by the Justice Department and the Securities and Exchange Commission into potential bribery in six countries where the company did business. In September, Stockholm-based Ericsson said it had set aside 12 billion kronor ($1.2 billion) to cover U.S. penalties.