David Crouch reports: Norwegian businesses who partner with businesses from other countries can become involved in corrupt acctivities unwittingly.\u00a0 Transparency Internationa suggests that three reent investigations in Norway should be a wakeup call to caution.<\/p>\n
In Norway. Jon Fredrik Baksaas, chief executive of Norwegian telecoms group Telenor, turned a blind eye to the payment of bribes by VimpelCom in Uzbekistan. Telenor holds 33 per cent of the shares in VimpelCom and 43 per cent of the voting rights.<\/p>\n
US and Dutch authorities are investigating allegations that VimpelCom acquired telecom licences by paying bribes through a Gibraltar-based shell company controlled by the Uzbek president\u2019s daughter Gulnara Karimova, who herself is under investigation in Switzerland for money laundering.<\/p>\n
The VimpelCom investigation widens a probe into corruption at Scandinavian telco TeliaSonera, which led to a clear out of senior management in 2013 at the company, part owned by the Swedish and Finnish governments.
\nTelenor said in a statement that by stepping down from VimpelCom\u2019s board, Mr Baksaas would \u201celiminate any potential conflict of interest under the circumstances\u201d while the allegations are investigated. The company denies that it could have done more to ensure transparency at VimpelCom. A hearing will be held\u00a0 in Norway\u2019s parliament on the case on January 14.<\/p>\n
Telenor is 54 per cent owned by Norway\u2019s government.<\/p>\n
The recent focus on Telenor follows a scandal in which Yara International, a Norwegian fertiliser company, received the largest fine in Norwegian corporate history for paying bribes in Libya. Four former senior managers, including the former chief executive, were charged with serious corruption, which they all deny. A spokesman for Yara said it is a different company today than when the issues in question took place.<\/p>\n
A Norwegian defence group Kongsberg was charged with \u201cgross corruption\u201d relating to its activities in Romania. As part of an ongoing investigation, Romanian and Norwegian authorities raided assets in Romania in September. Norway\u2019s prosecutor declined to comment on progress in the case. The company said it has zero tolerance for corruption and is co-operating with the investigation.<\/p>\n
All three scandals this year concern overseas business practices in countries that are struggling with corruption. The Norwegian state has significant stakes in each of the three companies.<\/p>\n
Trade Andersen, a business adviser at government agency Innovation Norway, said, \u201cIt is often easy to engage [Norwegian] management in anti-corruption efforts at management meetings, but all too often good intentions and ambitions are not translated into practice in the organisation.\u201d<\/p>\n
David Crouch reports: Norwegian businesses who partner with businesses from other countries can become involved in corrupt acctivities unwittingly.\u00a0 Transparency Internationa suggests that three reent investigations in Norway should be a wakeup call to caution. In Norway. Jon Fredrik Baksaas, … Continue reading ![\"Gulnara](\"http:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2015\/01\/Gulnara-Karimova.jpg\")
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