Thales faces Anglo-French investigation over suspected bribery
Adds French judicial source in paragraphs 5-6
LONDON/PARIS, Nov 21 (Reuters) -Britain's Serious Fraud Office (SFO) said on Thursday it was investigating suspected bribery and corruption at Thales TCFP.PA, Europe's largest defence technology company.
Investigators from the SFO and France's Parquet National Financier (PNF) have informed Paris-headquartered Thales of the probe, the SFO added in a statement.
A Thales spokesperson confirmed that the company was cooperating with the two authorities in an investigation related to four of its entities in France and Britain.
"The group complies with all national and international regulations. As the investigation is on-going, Thales will not comment further," the spokesperson said.
A French judicial source told Reuters that the investigation related to an arms contract in Asia.
The probe centres on possible charges of bribery of a foreign public official, influence trafficking, the handling of stolen goods and money laundering, the French source added.
Thales employs more than 7,000 staff in Britain across 16 sites. Its military and civil products range from sub-hunting sonars to biometric identity systems for banks, and from satellites to seat-back entertainment systems for airlines.
"Working collaboratively with our international partners is a crucial factor in the fight against international corruption and with this case I hope to reinforce the SFO and PNF's long-standing relationship," said SFO Director Nick Ephgrave.
"We will together rigorously pursue every avenue in our investigation into these serious allegations," he added.
In June, police in France, Spain and the Netherlands had searched the offices of Thales as part of a corruption probe.
Reporting by Sachin Ravikumar, Sam Tobin and Tassilo Hummel; Editing by Alistair Smout and Alexander Smith
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
