Russian telecom company agrees to pay $850M to resolve bribery charges on U.S.

Russia's largest mobile telecommunications company and its Uzbek subsidiary agreed to pay a $850 million to resolve U.S. charges of a bribery and money-laundering scheme, the U.S. Justice Department said on Thursday.

Mobile TeleSystems PJSC, also known as MTS, entered into a deferred prosecution agreement that charged the company with one count of conspiracy to violate anti-bribery and books and records provisions of the U.S. law on foreign corruption and with one count of violating internal control provisions of the law. Its subsidiary also pleaded guilty to violating the anti-bribery and record provisions, Justice said.

At the same time, MTS consented to Securities and Exchange Commission findings that it violated anti-bribery provisions of the U.S. securities law. 

(With inputs from agencies.)