Bribery costs Siemens
Filed in archive corporate crime by leon on March 20, 2007

This is very much a sweetener
. At the end of last year, Nokia had postponed the merger of their mobile-network units because of the bribery investigation.So what's changed? The trial is under way, Siemens seems to be weathering the storm and Nokia has managed to squeeze more money out of its new partner.
Whether that settles it remains to be seen. At the trial which started last week, the court was told that bribery was standard practice at Siemens. More on this from Der Spiegel.
Still despite the outrage from investors, the conglomerate at this stage seems to be getting through relatively unscathed. Its big shareholders are standing by the company, reports Ethical Corporation magazine.
As DWS, Germany's largest fund management group and a long-term Siemens shareholder told the magazine: "We are confident that it is a one-time problem and not a cancer that is spreading in the company."
The question is whether the testimony in the trial will change their minds.
Permalink: Bribery costs Siemens
Tags:
Siemens bribery siemens scandal siemens bribery costs+siemens bribery+costs more+money
Trackback: http://www.creative-weblogging.com/cgi-bin/mt-tb.pl/58576














