TOP NEWS: UK Serious Fraud Office Closes Investigation Into BAT

(Alliance News) - British American Tobacco PLC on Friday noted that the UK Serious Fraud Office ...

Alliance News 15 January, 2021 | 7:56AM
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(Alliance News) - British American Tobacco PLC on Friday noted that the UK Serious Fraud Office has discontinued an investigation of suspicions of corruption in the conduct of business by the London-based tobacco giant.

In August 2017, the SFO had opened a formal investigation into allegations of bribery in East Africa.

BAT said it had already been investigating these allegations through external legal advisers, and that it would co-operate with the SFO's investigation.

"BAT is pleased that the SFO has closed its investigation and that the SFO is taking no further action in respect of this matter. BAT remains committed to the highest standards in the conduct of its business," the group stated.

Shares in British American Tobacco have not yet started trading in London. Its Johannesburg shares were up 0.1% at ZAR571.94 on Friday.

By Dayo Laniyan; dayolaniyan@alliancenews.com

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