Ericsson warns likely to be fined over Iraq scandal, reports profit slump

FILE PHOTO: An Ericsson logo is pictured at Mobile World Congress (MWC) in Shanghai, China June 28, 2019. REUTERS/Aly Song

STOCKHOLM (Reuters) - Swedish telecom provider Ericsson said on Thursday it would likely be fined by U.S. regulators for its handling of a bribery investigation in Iraq and reported a slide in quarterly earnings due to its suspension of business in Russia.

The company disclosed in February that an internal investigation had found it may have made payments to the Islamic State militant group in Iraq - misconduct it said "started at least back in 2011".