Siemens issues an ultimatum

Mobile company Siemens issued an ultimatum yesterday to a range of its ex-executive board members, including former chief executives Heinrich von Pierer and Klaus Kleinfeld, and called on them to agree to pay damages relating to a multibillion euro bribery scandal. <br /><br />The German company, which is Europe&rsquo;s biggest engineering group, said seven former managers would face legal action if they did not show willingness for a settlement by mid-November.