Photo: Fredrik Persson/Scanpix

Telia could lose Uzbekistan profits

Telia Sonera may miss out on all the profits the company has made in Uzbekistan. Prosecutor Gunnar Stetler, who is investigating the company over allegations of bribery and money laundering in the Central Asian dictatorship, announced Thursday that the investigation could have major consequences for Telia Sonera.

According to a press release from Telia, Stetler has informed them: "In view of the ongoing investigation of suspicion of gross corruption, the investigation can lead to possible corporate fines and confiscation."

In plain language, this means that Telia Sonera can be stripped of the billions of kronas it has earned in Uzbekistan, and that the profits will go to the Swedish state.

Telia denies the allegations.

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