Telia hopes to draw a line under Uzbekistan nightmare with $965 million payment
The region that keeps on taking has claimed another pound of flesh from Swedish telco Telia in the form of a billion dollar fine.
The region that keeps on taking has claimed another pound of flesh from Swedish telco Telia in the form of a billion dollar fine.
A decade ago some ambitious TeliaSonera execs got together over bottle of aquavit and concluded the smart money was in Uzbekistan. They were wrong.
Norwegian telco Telenor has attempted to draw a line under the VimpelCom Uzbekistan controversy by accepting the resignations of its CFO and General Counsel.
The Chairman of Norwegian telco Telenor has resigned his position after losing the confidence of the country’s government, which is the majority shareholder in Telenor.
European operator group TeliaSonera has confirmed that it is the subject of an ongoing investigation by the US Department of Justice (DoJ) and has also been approached by the US Securities and Exchange Commission (SEC) relating to its operations in Uzbekistan.
European operator group TeliaSonera has announced that two of its Dutch holding companies, TeliaSonera UTA Holding and TeliaSonera Uzbek Telecom Holding, are subject to a preliminary investigation concerning bribery and money laundering. The firm said that its operations in Uzbekistan are among the holdings of the entities.
European operator group VimpelCom has announced that it has received a letter from the United States Securities and Exchange Commission (SEC) requesting documents and stating that it is conducting an investigation into the firm’s operations. The group’s headquarters in Amsterdam were also visited this week by representatives of the Dutch authorities, including the Dutch public prosecutor office, which informed VimpelCom that it is the focus of a criminal investigation in the Netherlands.
Russian operator MTS has announced that Uzdunrobita, the operator’s wholly-owned subsidiary in Uzbekistan, has filed a petition to declare bankruptcy in the Tashkent Commercial Court. The subsidiary has made all of its 300 to 400 staff remaining staff redundant, according to local reports, following a criminal case against its employees.
Nordic carrier TeliaSonera continued to spearhead the adoption of LTE, with an announcement on Monday that the company’s Uzbekistan subsidiary, UCell, has constructed a 4G network.
Russia’s leading mobile operator, Mobile TeleSystems (MTS), has partnered with Vodafone, the world’s largest operator in terms of revenues, to bring the Big V’s brand to Russia, Ukraine, Uzbekistan, Turkmenistan and Armenia. On Thursday, Voda announced that it has struck a strategic, non-equity partnership with MTS, giving the Russian operator access to products, services and […]