Thales faces bribery and corruption investigation

An investigation is under way into the France-based defence company Thales for suspected bribery and corruption, the UK's Serious Fraud Office (SFO) has announced.

A statement, released shortly after French financial markets had closed for the day, said a joint investigation involving the SFO's French counterparts PNF was under way.

It did not detail any allegations beyond the suspected offences though the Reuters news agency, citing a French judicial source, said it was related to claims of bribery of a foreign public official, influence trafficking, handling stolen goods and money laundering.

It concerned an arms contract awarded in Asia, the person said.

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Although based in Paris, the multi-national aviation and defence electronics group employs more than 7,000 people in the UK.

It has been involved in providing weapons to Ukraine and in September agreed a £162m contract with the UK government to supply 650 Lightweight Multirole Missiles from its site in Belfast.

It was reported in June that police in France, the Netherlands and Spain had searched company offices over suspicions of corruption linked to arms sales abroad.

Thales is Europe's largest defence technology company and operates three divisions; aerospace, transport and defence and security.

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SFO director, Nick Ephgrave, said: "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, built on mutual cooperation and shared success.

"We will together rigorously pursue every avenue in our investigation into these serious allegations."

A Thales spokesperson confirmed that the company was co-operating with the two authorities in an investigation related
to four of its entities in France and the UK.

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