Vimpelcom anticipates new charges stemming from Uzbek corruption investigation
MOSCOW. Sept 19 (Interfax) - Telecom holding Vimpelcom Ltd, which paid a fine of $795 million in connection with a corruption investigation into its dealings in Uzbekistan, believes new charges in the matter are likely.
"We are currently unable to estimate the additional charges that we will likely incur in connection with compliance with the agreements [with regulators] stipulating current obligations to cooperate in the investigation relating to the other parties, compliance with the monitoring regime and possible changes to our policies and procedures," Vimpelcom management said in a commentary attached to the prospectus for the sale of company American Depository Shares (ADS) that its shareholder Telenor is offering for sale.
"These charges may be significant," Vimpelcom said.
