Serious Fraud Office opens formal probe into BAT

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Cape Town – The UK-based Serious Fraud Office has opened a formal investigation into British American Tobacco (BAT) [JSE:BTI], the company said on Tuesday.

“As previously announced, we are investigating, through external legal advisers, allegations of misconduct,” BAT said in a statement.

“We have been cooperating with the Serious Fraud Office (SFO) and British American Tobacco has been informed that the SFO has now opened a formal investigation,” it said. “ BAT intends to cooperate with that investigation.”

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