BAT under investigation

British American Tobacco said today that it intended to co-operate with a UK Serious Fraud Office investigation.

‘As previously announced, we are investigating, through external legal advisers, allegations of misconduct,’ the company said in a note posted on its website.

‘We have been co-operating with the Serious Fraud Office (“SFO”) and British American Tobacco (“BAT”) has been informed that the SFO has now opened a formal investigation.

‘BAT intends to co-operate with that investigation.’