The Swedish authority investigates itself after Ericsson's suspected bribery

Ericsson has set aside SEK 12 billion to be able to pay any fines linked to a corruption investigation in the US.

According to a press release from the telecom giant, violations of the company's code of business ethics have been revealed in six countries in Asia, the Middle East and Africa.

It is now clear that the Swedish authority Export Credit Committee (EKN) will investigate its own role in the suspected corruption corruption.

- We will be able to identify certain transactions, how many and which they are we do not currently know, says Beatrice Arnesson, EKN's communications manager.

According to Arnesson, Ericsson must not precede the US investigation and tell what business it is about.

- Therefore, we also cannot investigate whether we are involved in their business. We will wait for the US authorities to issue their report. Then it will be possible for Ericsson to report on what business it is about, she says.

EKN's mission is to promote Swedish exports by providing government guarantees for loans in connection with export transactions. Like an insurance company, they guarantee payment if the buyer does not make a right for themselves. With the guarantee in the back, loans can then be taken out by state-owned Almi or Swedish Export Credit (SEK).

If you have guaranteed a deal where Ericsson has bribed a counterparty, what happens?

- Then EKN can cancel the deal. If it is a lending bank, then the bank can act by stopping paying the loan, says Beatrice Arnesson.

Nor does the Swedish Export Credit Agency know what transactions are about.

- We will find out as much information as we can. We do not accept corruption in businesses that we participate in, writes SEK's communications manager Petra Könberg in an e-mail to SVT Nyheter.