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Volvo investigates bribery accusations

Volvo's construction unit has launched an investigation into accusations that the company paid illegal bribes to Saddam Hussein's regime in Iraq during the United Nations oil-for-food programme.
The firm's construction equipment unit was one of more than 2,200 companies listed as having colluded with Saddam's government in a scathing report released yesterday about the massive corruption. Volvo said it is seriously concerned about the bribery accusations.

Volvo's chief executive Leif Johansson said: 'If it is confirmed that the accusations are valid and improper actions have occurred, we will naturally take actions.'

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