Thales Under Investigation for Bribery and Corruption
SFO and PNF Jointly Investigate French Defense Contractor
Thales Group, the Paris-headquartered aerospace and defense contractor, is being investigated by the UK's Serious Fraud Office (SFO) and France's Parquet National Financier (PNF) for suspected bribery and corruption.
The multinational firm, which employs over 7,000 in its UK subsidiary and is known for creating missiles, sonar systems for the Royal Navy, and designing aircraft carriers, is facing scrutiny in both the UK and France.
The investigation stems from searches executed in Thales' offices across France, Spain, and the Netherlands.
This collaboration between the SFO and PNF follows a precedent set by their joint investigation into Airbus, resulting in £3bn penalties.
Thales, already under two separate corruption inquiries during the summer, is cooperating with authorities and aims to adhere to all regulatory requirements.
Despite the ongoing investigation, Thales continues to secure significant contracts, including a recent £2bn UK MoD project to enhance naval capabilities, and it remains a key player in defense markets, with its shares valued at over €31bn in Paris.
The multinational firm, which employs over 7,000 in its UK subsidiary and is known for creating missiles, sonar systems for the Royal Navy, and designing aircraft carriers, is facing scrutiny in both the UK and France.
The investigation stems from searches executed in Thales' offices across France, Spain, and the Netherlands.
This collaboration between the SFO and PNF follows a precedent set by their joint investigation into Airbus, resulting in £3bn penalties.
Thales, already under two separate corruption inquiries during the summer, is cooperating with authorities and aims to adhere to all regulatory requirements.
Despite the ongoing investigation, Thales continues to secure significant contracts, including a recent £2bn UK MoD project to enhance naval capabilities, and it remains a key player in defense markets, with its shares valued at over €31bn in Paris.
