November 3, 2015 / 6:47 AM / 2 years ago

Telecoms company VimpelCom to take $900 million provision

AMSTERDAM, Nov 3 (Reuters) - Telecoms company VimpelCom said on Tuesday it will take a provision of $900 million in relation to an ongoing investigation by U.S. and Dutch authorities into its business in Uzbekistan.

The decision was made “based on its ongoing assessment of the investigation during the third quarter of 2015,” it said in a statement, ahead of its quarterly results due Nov. 6.

Authorities in the United States and the Netherlands, where VimpelCom has its financial headquarters, announced the probe in March 2014 on allegations of corruption. (Reporting By Anthony Deutsch; Editing by Gopakumar Warrier)

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