Ericsson Says Six Current and Former Employees to be Indicted in Greek Probe

By Dominic Chopping Features Dow Jones Newswires

Swedish telecom equipment maker Ericsson AB (ERIC) said Friday it has become aware that six of its current and former employees will be indicted by Greek authorities over allegations of possible corruption.

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The unnamed six--two current and four former employees--are involved in an investigation into a defense deal that former subsidiary Ericsson Microwave Systems completed with Greece in 1999, which included the delivery of an airborne radar system.

Ericsson, which disclosed the probe three years ago, said it hasn't been contacted by any authority on the matter, but is aware that there has been a recent decision to indict the six individuals. Greek prosecutors had previously served seven current and former employees with summons for preliminary investigation proceedings.

Ericsson sold the subsidiary to Saab AB in 2006.

"Although the company refrains from providing details of the ongoing legal proceeding, Ericsson takes all allegations of corruption in relation to our business seriously," it said.

-Write to Dominic Chopping at dominic.chopping@wsj.com ; Twitter: @domchopping @WSJNordics

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(END) Dow Jones Newswires

July 07, 2017 06:12 ET (10:12 GMT)