Barefoot Investor: MEDIA HIGHLIGHTS: TM sets up task force to probe bribe allegation

MEDIA HIGHLIGHTS: TM sets up task force to probe bribe allegation

TM has set up a task force to carry out an investigation over news that telecommunications equipment maker Alcatel-Lucent gave bribes to its staff to win a contract. On Tuesday, Alcatel-Lucent and 3 of its subsidiaries had to pay more than USD137m in fines and penalties to settle US charges.

According to court documents, Alcatel agents paid bribes to officials in Malaysia to obtain or retain a telecommunications contract worth USD85m. (Business Times)

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