Digicel, the Caribbean based telecoms company, has said it is cooperating fully with the US Department of Justice (DOJ) over possible violations of the US Foreign Corrupt Practices Act and will continue to do so.
It follows a voluntary disclosure by the company to the DOJ of information relating to international investigations and inquiries in a number of jurisdictions.
The Act makes it illegal for a US person or company to offer, pay or promise to pay money to any foreign official in order to obtain or retain business.
"Digicel is committed to conducting business in adherence with laws and regulations of the jurisdictions in which we operate, supported by a rigorous ethics and compliance program," the company said in a statement.
"We take compliance very seriously and are continually assessing and enhancing our compliance policies and procedures to ensure we uphold the highest standards across the company."
The company did not provide any further information about the nature of the possible issues, the timeframe, or the location or locations impacted.
News of the voluntary disclosure was first reported by Bloomberg.
Digicel bond holders were informed of the issue by the company in a report last week.
It is understood that report stated that while the outcome of the matters could not be predicted, it could be material to Digicel's financial position and could impact its reputation.
Bondholders were also told that the internal probes were undertaken because the Digicel board has focused on assessing and enhancing compliance policies and procedures.
It also warned that the costs associated with enhancing the processes and procedures cannot be predicated but could be significant.
Digicel was originally founded by businessman Denis O’Brien in 2001 and subsequently grew into a major telecoms player in the Caribbean and Central America, with operations currently in 25 markets.
Earlier this year a group of creditors took control of the business in a debt for equity swap to reduce the company’s debts.
Mr O'Brien remains a board member of Digicel and a minority shareholder.
The company has over 10m customers and offers mobile, cable and TV broadband and business solutions to customers.
