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TeliaSonera Offices Raided in Suspected Bribery Probe

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TeliaSonera has revealed that two of its Dutch holding companies are subject to a preliminary investigation concerning bribery and money laundering.

TeliaSonera's operations in Uzbekistan are among the holdings of the entities.

Authorities have carried out searches at companies during course of March 11 to get access to documents. At this point TeliaSonera said that it has no further details about the investigation.

However, the raids took place on the same morning as raids on offices at Amsterdam headquartered, VimpelCom regarding its activities in Uzbekistan.

It has been suggested that the VimpelCom raids were related to Takilant Ltd., a company that is the focus of a corruption probe at TeliaSonera.

Takilant, a company with ties to President Islam Karimov, owned a minority interest in VimpelCom's local subsidiary company between 2007 to 2009.

VimpelCom's shares fell sharply on news of the investigation.

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Tags: teliasonera  vimpelcom  Sweden  Uzbekistan  Netherlands