Second Bribery Probe into Montenegro Telekom Privatisation
Published on: 21st Mar 2014
Note -- this news article is more than a year old.
By: Ian Mansfield
The privatisation of Montenegro Telekom back in 2005 is being investigated by the US stock exchange regulator following allegations of bribery during the privatisation process.
Germany's Deutsche Telekom owns a 59% stake in Hungary's Magyar Telekom, which in turn bought a 76% stake in Montenegrin Telekom in 2005.
The US stock market is involved because Magyar Telekom shares were listed on the American Stock Exchange.
It is alleged that three Magyar Telekom company directors paid bribes to government officials to ensure that its bid for the company was accepted.
This is the second probe into the privatisation after a Parliamentary investigation in 2012 was unable to find any evidence of bribery.
On the web: Balkan Insight