Siemens pays 201m-euro fine to end graft probe
German engineering giant Siemens said on Thursday it had agreed to pay a fine of 201 million euros (284 million dollars) to end an investigation into corruption in its telecommunications division.
The fine was set by a court in the southern German city of Munich, where Siemens has its headquarters.
The company also said a final settlement has been reached with the German tax authorities.
Siemens said in a statement that the decision by the court and the settlement with the tax authorities "conclude the German investigations into illegal conduct and tax violations at Siemens' former Com Group."
Com Group is the former name of the company's telecommunications division.
"Today's decisions are important steps in clarifying and coming to terms with the misconduct which occurred in the past," Siemens chief executive Peter Loescher said in the statement.