Thales Under Investigation: Unveiling Allegations of Bribery and Corruption

Thales, a major French defence and technology firm, is under investigation by Britain's Serious Fraud Office and France's PNF for suspected bribery and corruption related to an arms contract in Asia. The inquiry involves four entities in France and the UK, causing Thales shares to drop significantly.

Thales, a leading French defence and technology company, is embroiled in a joint investigation launched by the UK's Serious Fraud Office and France's PNF. The probe centers around allegations of bribery and corruption linked to an Asian arms contract, though specific details remain undisclosed. The inquiry affects four entities in France and the UK.

Thales, which maintains a strong portfolio ranging from military sonars to biometric systems, denies these allegations. The company's stocks tumbled by 5.3% in mid-afternoon trading amid the scrutiny. Thales asserts its compliance with international laws and is fully cooperating with the investigative bodies.

This development adds to the company's legal woes, following previous probes by France's PNF. The high-profile joint investigation resembles the multinational probe faced by Airbus, marking a significant corporate scrutiny occurring across both nations.

(With inputs from agencies.)