Thursday, 11 October 2012
The Swedish - Finnish state owned telecom giant, Telia Sonera's
business in Nepal is increasingly becoming another trouble sport for
the company. The question asked now is how ethical has the company been
performing there when more allegation of corrupt dealing emerged
Owned by the governments of Sweden and Finland it would be expected
that openness, respect for human rights, corruption - free and
increased ethic will be the order of the day of its operations. But
Swedish media sources have identified that the company is increasingly
carrying out deal that are not so ethnically friendly.
After Uzbekistan and various tax havens deals, comes Nepal where the
company is said to have bought a company Ncell. In relations to the
purchases, it turns out that TeliaSonera paid over Skr4 billion to
another company controlled by the son of the King of Nepal, report
Swedish daily Dagens Nyehter.
This has ignited stark and hardened criticism from the Swedish
Financial Markets Minister, Peter Norman regarding the disputed
The paper report that the Swedish business weekly, Veckans Affärer
(Business Week) in its upcoming issue has identified several local
governments and criminal under investigations of corruption, bribery
and tax evasion which have been associated with TeliaSonera's links to
Ncell and that the Nepalese companies are links to the son in law of
teh king of the country, Raj Bahadur Singh.
When TeliaSonera CEO, Lars Nyberg, announced the deal in Nepal in
autumn 2008, no mention was made of the peculiar circumstances of Ncell
Swedish media review of the Nepal operations identified that the deal
took place with a company in the British Virgin Islands called
Zhodar Investment which TeliaSonera had done business with. TeliaSonera
Chairman, Anders Narvinger will not say if he knows who is behind
Zhodar Investment, according to Dagens Nyheter
"We have a successful business in Nepal. But to get accurate
information about the business, you get to talk to the company
concerned," says Anders Narvinger, to Dagens Nyheter.
TeliaSonera has chosen not to comment on its dealings about its relations with Zhodar Investment.
While the Swedish Financial Markets Minister, Peter Norman, who
represents the major shareholder of the company, given that the Swedish
government along with its Finnish counterpart own majority shares in
the company, has increased his tone on TeliaSonera to act up.
Peter Norman told a Swedish parliamentary committee that he assumes
that the Company and the Board would not limit the review, which is on
going to only the legal issues, but also look at whether the company's
actions comply with state and company guidelines.
Another one leading shareholder, insurance group, Folksam calls for greater transparency in the investigation.
There are also other investigation relating to Skr1.5 billion
transferred to Sweden by the Uzbek company, Takilant which has business
dealings with TeliaSonera in Uzbekistan. Given the weary circumstances
of the of the financial transfer, the investigation of serious bribery
and aggravated corruption is being carried out by the chief prosecutor,
Gunnar Stetler. Details about that will come from the district court in
Stockholm on Monday.
by Scancomark.com Team
welcome your contribution. Did you find anything wrong with this
article? Do you want to contribute to our news network? Do have a news
tip or assist us with a correction