Televisa agrees to pay $95 million for participation in FIFA bribery

Televisa agrees to pay  million for participation in FIFA bribery

Grupo Televisa has reached a $95 million settlement to settle a lawsuit filed by a US investor who accuses the Mexican broadcaster of bribing football officials. FIFA win the right to four World Cup tournaments.

Preliminary cash agreement with holders of American Depository Receipts (ADRs) television It was filed Tuesday night in Manhattan federal court and is seeking judge approval.

Televisa was accused of artificially inflating the price of its ADRs by hiding how it planned to acquire rights to world Cup for 2018, 2022, 2026 and 2030 through bribery by publicly declaring their commitment to ethical business practices. FIFA It is the governing body of world football.

Investors said they suffered losses when bribes during corruption trials in Brooklyn, New York, which led to ADR prices falling.

Televisa denied that it had done wrong by agreeing to reach an agreement. He did not immediately respond to requests for comment on Wednesday.

The main plaintiff is Palm Tran Inc United Transit Union 1577 Atlanta Local Pension Plan.

The US Attorney’s Office in Brooklyn released its investigation. corruption in international football in 2015. More than 40 people were prosecuted and at least 31 pleaded guilty.

The three defendants, 21st Century Fox executives Hernan Lopez and Carlos Martinez, and an Argentine sports marketing company. Complete group of SA gamesare on trial in Brooklyn.

The other two defendants, former leader of Brazilian football José María Marin and former leader CONMEBOL Juan Angel Naput from Paraguay was convicted in 2017.

Reuters

Source: Aristegui Noticias

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