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A court in Stockholm Sweden, freezes TeliaSonera Assets tied to its Uzbeck partner.

Tuesday, 22 January 2013
Sweden continues to work extremely hard to weed away the vices of corruption and bribery. This is why a Swedish court in Stockholm decided to proceed with a trial related to TeliaSonera and its business in Uzbekistan despite appeals that Sweden did not have the jurisdiction for such trial.

Stockholm District Court decided today to freeze an additional Skr1.8 billion of TeliaSonera's assets since it remain held that its Uzbek partners, Takilants participated in corruption.
The Svea Court of Appeal on January 16 decided to proceed with the bribery and corruption charges on Takilant, the representative of Telia though there has been uproar that Swedish courts did not have jurisdiction given that Takilant had not been to Sweden.
Sweden believes in a strong clamping down on corruption and bribery as such wish to promote fair game in business practices in countries where operations and influences to lucrative resources could be obtained illegally.

The Swedish prosecutors suspect that Telia bribed Takilant, with links to the Uzbek president's daughter, Gulnara Karimova, to get access to licenses and frequencies to operate their mobile telephone business in the Central Asian country, which has a history of corruption, bribery, and lack political, social, and economic freedoms.

Some months ago, Skr200 million of assets were frozen in various Swedish banks particularly in Nordea held in the name of Takilant.
According to Swedish media reports, prosecutor Gunnar Stetler would not comment on the court's decision but it seems obvious that he has his eyes on Takilant's remaining stake in the companies it owns together with Telia. The share is worth about half a billion Swedish Krona.

Telia Sonera says it would consider the legal position of Takilant and would propose the possibility of selling it.
By Scancomark.com Team

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