HALISTER1: Takilant Sees EU123m Confiscated in Dutch Bribery Case

Takilant Sees EU123m Confiscated in Dutch Bribery Case

(Bloomberg) -- Takilant Ltd, a Gibraltar-registered company with ties to the daughter of Uzbekistan’s president, was found guilty by Amsterdam court to accepting bribes in exchange for wireless frequencies.
  • Co. deemed guilty of bribery and fraud, not guilty of money laundering
  • Co. will see EU123m confiscated, has to pay EU1.6m fine
  • Dutch prosecutor is still investigating Telia
  • NOTE: Amsterdam ruling is part of wider investigation by U.S., Dutch, Swedish and Swiss authorities into claims that VimpelCom, Mobile TeleSystems and Telia paid bribes in exchange for business and investment opportunities in Uzbekistan
  • NOTE: Telia slides after earnings as analysts see uncertainties in Eurasian divestment, litigation process
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
MTSS RM (Mobile TeleSystems PJSC)
TELIA SS (Telia Co AB)
VIP US (VimpelCom Ltd)
3528115Z ZU (Takilant Ltd)

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