SFO opens bribery investigation into British American Tobacco

Britain's Serious Fraud Office has opened a formal investigation into possible historic bribery by British American Tobacco in Africa.

The FTSE 100 company has been investigating allegations through its law firm and after informing the SFO it reported on Tuesday that the specialist prosecuting authority has now opened a formal investigation.

"BAT intends to co-operate with that investigation," the company said, with reports that the maker of Lucky Strike and Rothman cigarettes bribed African government officials to influence tobacco legislation.

The original allegations were made towards the end of 2015, when the BBC reported that BAT had a lobbyist arrange bribes for three public officials in Rwanda, Burundi and the Comoros Islands.

Earlier this year the board said that it had created a sub-committee of the board to specifically monitor matters, as it felt it needed to "ensure active oversight of, and support for the investigation between board meetings".