Russia’s VimpelCom owner in talks with US on Uzbek case

MOSCOW, Feb 17 (PRIME) -- Amsterdam-based VimpelCom Ltd., the sole owner of Russian mobile operator VimpelCom, has confirmed negotiations with the U.S. to settle investigation of the company’s entrance onto the Uzbek market, VimpelCom Ltd. said Wednesday in a financial report.

“As previously disclosed, VimpelCom Ltd. has engaged in discussions with the U.S. Department of Justice (DOJ), the U.S. Securities and Exchange Commission (SEC) and the Dutch Public Prosecution Service (OM) toward the resolution of the company’s potential liabilities in the ongoing investigations relating primarily to the company’s business in Uzbekistan and prior dealings with Takilant Ltd.,” VimpelCom Ltd. said.

Takilant Ltd. is arguably affiliated with Gulnara Karimova, a daughter of Uzbek President Islam Karimov.

“These discussions have resulted in prospective settlements with the SEC, DOJ and OM. These prospective settlements remain subject to the approval of the pertinent authorities, and will not become final or announced until that time.”

Based on the terms of the prospective settlements with the SEC, DOJ and OM, VimpelCom Ltd. would, among other things, acknowledge certain violations of the U.S. Foreign Corrupt Practices Act and relevant Dutch laws and pay fines and disgorgements.

VimpelCom Ltd. earlier put aside U.S. $900 million to settle the matter.

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