BAT gets good news from fraud squad over Africa corruption probe

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British American Tobacco PLC (LON:BATS) has been told by the UK Serious Fraud Office that it will be taking no action over its corruption investigation.

The SFO opened a formal investigation in 2017 into possible historic misconduct by the cigarette maker in Africa.

READ: British American Tobacco to start clinical trials on COVID-19 vaccine candidate

Allegations regarding historic misconduct in the continent were made in 2015.

But the SFO said it has now discontinued its investigation as “the evidence in this case did not meet the evidential test for prosecution”.

BAT said it “is pleased that the SFO has closed its investigation and that the SFO is taking no further action in respect of this matter”.

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