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Wireless

Ericsson takes provision of SEK 12 bln for fallout from US corruption probes

Thursday 26 September 2019 | 09:29 CET | News
Ericsson said corruption investigations into the company by the US Securities and Exchange Commission (SEC) and Department of Justice (DoJ) are ongoing and that the company will be taking a provision of SEK 12 billion (over USD 1.2 billion) in the third quarter to cover potential fines and costs. The company estimates potential monetary sanctions at USD 1 billion, with other related costs coming on board. There is also the question of reputational harm, which could have a "material" adverse impact on the business, the company said.

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Categories: Mobile & Wireless
Companies: Ericsson
Countries: United States / World
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Comments

I always proud to be a member of this ericson takes provision
Abdulsalam Haruna @ 26/9/2019 - 10:24


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