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Swedish provider of telecommunications equipment and data communication systems giant Ericsson logo at the Ericsson headquarters in Stockholm's suburb of Kista. (AFP Photo)
Swedish telecoms firm Ericsson has agreed to pay more than $1 billion to resolve allegations of bribery in countries around the world, the US Justice Department announced Friday.
An Egyptian subsidiary also pleaded guilty in a federal court in New York to a charge of conspiring to violate the 1977 Foreign Corrupt Practices Act.
"Today, Swedish telecom giant Ericsson has admitted to a years-long campaign of corruption in five countries to solidify its grip on telecommunications business," US Attorney Geoffrey Berman of Manhattan said in a statement.
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