Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

US Fines Deutsche Telekom's Hungarian Subsidiary US Fines Deutsche Telekom's Hungarian Subsidiary

This ad will end in seconds
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation

 

Congress

US Fines Deutsche Telekom's Hungarian Subsidiary

December 29, 2011

Fresh off its failed attempt to sell T-Mobile to AT&T, Deutsche Telekom and a Hungarian subsidiary have agreed to pay the U.S. Justice Department millions to resolve corruption charges.

The German telecom company has been having a rough time with U.S. regulators. Earlier this month Deutsche Telekom gave up on its blockbuster deal to sell T-Mobile to AT&T after Justice Department lawyers went to court to block it.

Magyar Telekom and its parent company, Deutsche Telekom, will pay a nearly $64 million criminal penalty, the Justice Department said on Thursday.

Most of the payment will be shouldered by Magyar, which was accused of using bribes and other inappropriate measures to prevent Macedonian officials from liberalizing their country's telecommunications system. The company was also accused of underhanded deals in Montenegro.

Deutsche Telekom was fingered for failing to accurately record and report Magyar's activities, according to a Justice statement. The Justice agreement notes that the companies decided to disclose the violations, and to take steps to fix the problem.

In a statement on Thursday, Magyar said it "remains fully committed to responsible corporate behavior."

Magyar also paid more than $31 million to settle related U.S. Securities and Exchange Commission charges.

Deutsche Telekom owns about 60 percent of Magyar, the largest telecom company in Hungary.

Job Board
Search Jobs
Biomedical Service Internship Position
American Society of Civil Engineers | Flint, MI
Fire Sprinkler Inspector
American Society of Civil Engineers | Charlotte, NC
Professional Development Program Engineer
American Society of Civil Engineers | Farmington Hills, MI
Deputy Director of Transit Operations
American Society of Civil Engineers | San Jose, CA
Transportation Planner
American Society of Civil Engineers | Salinas, CA
Assistant Professor - Water Resources/Ecological Engineering
American Society of Civil Engineers | Auburn, AL
Product Manager - Chemical Development and Supply - Tulsa, OK
American Society of Civil Engineers | Tulsa, OK
Commissioning Intern
American Society of Civil Engineers | Chicago, IL
Assessment and Remediation Team Lead
American Society of Civil Engineers | Regina, SK
Business Development Manager
American Society of Civil Engineers
Sr. Controls Systems Engineer
American Society of Civil Engineers | Grand Island, NE
Senior Project Manager- Transportation
American Society of Civil Engineers | San Antonio, TX
Materials Engineer 2
American Society of Civil Engineers | IL
Land Surveyor
American Society of Civil Engineers
Quality Engineer
American Society of Civil Engineers | Attica, IN
Comments
comments powered by Disqus