Sweden’s Telecoms Giant, Ericsson has agreed to pay more than $1b to resolve allegations of bribery.
This was disclosed by the U.S. department of Justice.
It said the company admitted to years of long campaign of corruption in five countries to strengthen its grip on telecommunications business.
Ericsson also entered a deferred prosecution agreement in connection with criminal charges filed in a New York court.
The settlement is one of the highest ever under the Foreign Corrupt Practices Act.
It involves a $520m criminal penalty to the justice department and a payment of $540m to the Securities and Exchange Commission .
The US justice department named the five countries involved as Djibouti, China, Vietnam, Indonesia and Kuwait.
