Tuesday, September 14, 2010

Deutsche Telekom Faces Bribery Inquiry

The public prosecutor's office in Bonn has initiated an investigation into Deutsche Telekom for suspected acts of bribery in Macedonia and Montenegro. The inquiry concerns eight people, including René Obermann, Deutsche Telekom's CEO, who is alleged by the Bonn prosecutor of approving dividend payments to MakTel at a meeting with the CEO of Makedonski Telekom (MakTel) in 2005 on the condition that the Macedonian telecommunications market not be opened up to other competitors. The public prosecutor's office is linking this to alleged bribery payments made by third parties. The case was initially opened by the U.S. Department of Justice and U.S. Securities and Exchange Commission.

In a statement, Obermann rejected the allegations made against him as false, noting that DT has fully cooperated at all times in the U.S. authorities' investigation, which has been underway for four years now. http://www.telekom.com

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