ISLAMABAD ( BMZ REPORT )
VimpelCom Ltd., where Telenor holds a minority stake, in their fourth quarter results release today announced that their ongoing discussions with US and Dutch authorities have resulted in prospective settlements where the company would acknowledge certain violations of corruption laws and indicates that they will pay a fine within the previously disclosed provision for that purpose. VimpelCom writes that these prospective settlements remain subject to the approval of the pertinent authorities. VimpelCom reiterates that there can be no assurance that they will become effective in accordance with the terms described above.
Corruption is unacceptable, and Telenor takes it very seriously that VimpelCom now seems to acknowledge certain violations of the US. Foreign Corrupt Practices Act and relevant Dutch Laws.
Telenor is unable to give any further comments to VimpelCom’s prospective settlements until they are finally approved and publicly available.
Company Press Release