Saturday, June 18, 2016

Ericsson silence criticism – Västerbotten Courier

Economy. Folksam calls Ericsson to be more open about why US authorities are asking questions to the telecom giant. This after it got information that Ericsson is being investigated for corruption.

– We have urged them to greater transparency, they’ll tell you in detail what is going on and be clear on the substance. We have an important shareholding in Ericsson and therefore wants clearer answers. While many pension savers who are owners should know what is going on, says Carina Lundberg Markow, head of corporate governance at Folksam.

According to reports in the Swedish newspaper Svenska Dagbladet, Ericsson is involved in a corruption investigation led by the US authorities. However, views on this differ.

Quiet on the investigation

Carina Lundberg Markow think it is worrying that the US government put questions to Ericsson for three years, that the matter could not be closed.

– they have not told us that they are involved in a corruption investigation. They have said that it was not initiated any legal process, that it is not going on any investigation, and that US authorities raised questions that they voluntarily given answer, she says.

Meeting with shareholders

Nordea, another of the company’s shareholders, has had a meeting with the telecom giant. But according to Nordea’s press service, the meeting planned for some time and was not about corruption issues, according to the bank.

Sasha Beslik, Nordea’s head of responsible investment, says the Swedish newspaper Svenska Dagbladet:

– Some markets such as Uzbekistan, Kazakhstan and China are hard of corruption perspective. We have wondered why other companies are caught but not Ericsson. We have already received indications things were not OK.

Answers questions

It is the SEC and the US Department of Justice currently reviewing Ericsson’s operations in China for suspected corruption, according to the Swedish newspaper Svenska Dagbladet.

Ericsson confirms that it has been asked for years about corruption from the uS government.

“What we can say is that it is Ericsson’s anti-corruption program and related issues the Foreign Corrupt Practices Act, “writes Ericsson in a statement.

Ericsson say that they are cooperating with the US authorities.

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