The U.S. and Dutch authorities present proposed settlement amount
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.
Statements made in the press release relating to future status or circumstances, including future performance and other trend projections are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of Telia Company.
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