Sweden begins Ericsson probe in wake of US case - Mobile World Live

Sweden begins Ericsson probe in wake of US case

13 DEC 2019

Sweden’s prosecution authority opened an investigation into Ericsson after assisting in a US bribery case settled by the vendor last week, Reuters reported.

Details on the focus of the latest investigation are sparse, save for it relating to suspected bribery and involving information revealed during a long-running investigation by US authorities.

Late last week Ericsson agreed to pay a total of $1.06 billion to settle corruption cases brought by the US Department of Justice and Security and Exchange Commission. The vendor admitted to paying bribes, falsifying records and other related activities.

All incidents date from before 2016, with the company subsequently introducing new ethics and compliance procedures.

Ericsson made a provision of SEK12 billion ($1.26 billion) in its Q3 accounts, a sum it expected to cover all fines and costs associated with the action. Commenting on its resolution with US authorities, CEO Borje Ekholm said it “allows us to close this legacy chapter.”

During its various comments on the case, the company did not disclose whether other authorities would be making similar investigations into its previous activities.

Ericsson declined to comment on the case in Sweden.

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Chris Donkin

Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

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