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Norway's Telenor clears CEO in Grameenphone ethics case
December 12, 2016 / 7:04 PM / 10 months ago

Norway's Telenor clears CEO in Grameenphone ethics case

OSLO, Dec 12 (Reuters) - The board of Norwegian telecoms firm Telenor said on Monday:

** A Telenor Group internal audit in May 2016 uncovered that 11 of 250 sponsorship agreements at majority-held Bangladesh telecoms firm Grameenphone broke with the company’s internal guidelines

** Said “Breaches are unacceptable, and corrective and preventive measures have therefore been initiated”

** The first time Telenor Group Internal Audit uncovered unacceptable sponsorships in Grameenphone was in 2013

** Acknowledges that this case could have been followed up more closely after 2013

** Telenor is currently further strengthening our routines for allocating sponsorships

** Said the Board of Directors in Telenor ASA has previously processed and considered CEO Sigve Brekke’s involvement in the case and regards it as concluded with regards to Brekke’s handling

** The Telenor board meeting on Monday took place amid an ongoing power struggle between its chief executive and the chairwoman. The meeting is expected to continue on Tuesday

** Telenor declined a request for further comment when contacted by Reuters (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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