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| Name | Symbol | Market | Type |
|---|---|---|---|
| Ericsson | NASDAQ:ERIC | NASDAQ | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.02 | -0.38% | 5.22 | 5.21 | 5.22 | 601 | 10:26:11 |
From Apr 2019 to Apr 2024
By Dominic Chopping
STOCKHOLM--Ericsson AB (ERIC) said Thursday that it still expects that the previously announced provision of $1.2 billion will cover monetary sanctions and related costs from the continuing U.S. foreign corruption probe.
The telecommunications-equipment company said in September that it had made the provision amid a yearslong investigation by the U.S. Securities and Exchange Commission and the U.S. Department of Justice over the company's compliance with the U.S. Foreign Corrupt Practices Act.
The investigation relates to historical deals made in China, Djibouti, Indonesia, Kuwait, Saudi Arabia and Vietnam.
Ericsson said that "the provision of $1.2 billion is still its current estimate of the amounts needed to cover the monetary sanctions, plus other related costs, as announced on Sept. 26."
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
December 05, 2019 03:45 ET (08:45 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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