Russia Telecoms Giant MTS to Pay $850 mn in U.S. Corruption Case

Russian telecoms giant MTS said Thursday it had agreed to pay $850 million to settle a US corruption case stemming from its operations in ex-Soviet Uzbekistan.

MTS, Russia's leading mobile provider, said in a statement that the agreements with US authorities "mark the closure of the investigations into the company's acquisition and operation of its former subsidiary in Uzbekistan."