KUALA LUMPUR -(Dow Jones)- Telekom Malaysia Bhd (4863.KU) and Axiata Group Bhd (6888.KU) said Friday they are lifting a suspension on Alcatel-Lucent (ALU.FR) and its group of companies, which will enable the latter to submit bids for new tenders, sign contracts and form joint ventures with the two Malaysian companies and their associates. The two companies had imposed the restriction on Alcatel-Lucent early this year after the U.S. Securities and Exchange Commission and U.S. Justice Department made documents public alleging that the French telecommunications company paid bribes to employees of Telekom Malaysia in exchange for non-public information. Axiata Group was part of Telekom Malaysia at the time of the alleged bribes. Alcatel-Lucent had agreed to pay more than $137 million in January 2011 to settle charges that it bribed foreign government officials in Latin America and Asia before 2006. In an exchange filing with Bursa Malaysia, Axiata Group said it was lifting the suspension effective Dec. 16 and the decision was made "after a thorough review by Axiata which takes into consideration external agency reports on the institutionalisation of policies, compliance structures and higher ethical standards throughout ALU Group." "It also takes into account satisfactory evidence and assurances by ALU Group that it has improved its policies and implemented enforceable measures to prevent a recurrence of any improper acts in the future and adherence to all applicable legal, regulatory and ethical requirements," Axiata said. Telekom Malaysia said it is lifting the suspension effective Jan. 4, 2012. -By Ankur Relia; Dow Jones Newswires; 603-2026-1233; ankur.relia@dowjones.com
