Vimpelcom announced it faces investigations in the US and the Netherlands into its activities in Uzbekistan. The company said it received a letter from US Securities and Exchange Commission stating that it's conducting an investigation related to Vimpelcom and requesting documents. Also, the company's headquarters in Amsterdam were visited by representatives of the Dutch authorities, including the Dutch public prosecutor office, who obtained documents and informed the company that it was the focus of a criminal investigation in the Netherlands.
The investigations "appear to be concerned with the company's operations in Uzbekistan", Vimpelcom said without providing further details. The company said it intends to fully cooperate with the investigations. Vimpelcom has 10.5 million mobile customers in Uzbekistan.
It is not the first foreign operator to face problems in the country. In 2012, MTS had its assets seized by the government over alleged licence and tax violations. It was eventually declared bankrupt and ended up leaving the market. TeliaSonera's top management fell in 2013 over allegations of mismanagement at its operations in Uzbekistan. The Swedish public prosecutor continues to investigate how the company was established in Uzbekistan.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.
We have been keeping professionals in the telecoms industry up-to-date since 2000. Telecompaper is a well respected, independent research and publishing company focussed on the telecommunications industry.
3995 AA Houten
Phone: +31 30 6349600
Fax: +31 30 6349699
© 2000 - 2016 Telecom.paper BV. All rights reserved.
Telecompaper is a trademark of Telecom.paper BV. No part of this site can be reproduced without
the expressed permission of Telecom.paper BV. Our General Terms and Conditions can be found here.
Terms and Conditions