Ericsson Confirms U.S. Anticorruption Probe
June 17 2016 - 7:10AM
Dow Jones News
STOCKHOLM—Swedish telecom equipment maker Ericsson AB is being
investigated by U.S. authorities over possible corruption.
Ericsson said Friday it received a request from the U.S.
Securities and Exchange Commission in March 2013 to voluntarily
provide information on its anticorruption policies and procedures,
as well as some of its operations.
Ericsson said the questions were related to the U.S. Foreign
Corrupt Practices Act.
The statement comes after Swedish daily Svenska Dagbladet
reported that the company is being investigated by U.S. authorities
over its activities in China.
Minako Nakatsuma Olofzon, a spokeswoman for Ericsson, said the
company had confirmed to local media in 2013 that it had received
the request, but media reports at the time said U.S. authorities
were investigating Ericsson's business operations in Romania.
Ms. Nakatsuma Olofzon refused to give more details on which
business practices were being investigated by the SEC, but said
that Ericsson will cooperate fully with authorities.
"While we strive to at all times conduct our business in
compliance with applicable laws, matters do arise from time to time
as a result of the global nature of our business," the company
said.
Ericsson's shares were trading 1.65% lower at 62.55 Swedish
kronor in midmorning trade in Stockholm.
Write to Matthias Verbergt at Matthias.Verbergt@wsj.com
(END) Dow Jones Newswires
June 17, 2016 06:55 ET (10:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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