By Pierre Bertrand


Thales shares fell after French and British authorities launched a joint investigation into suspected bribery and corruption at the aerospace and defense group.

Shares in the French company were down 4.1% at 146.30 euros in European afternoon trading.

Britain's Serious Fraud Office said Thursday that it joined forces with France's National Financial Prosecutor's Office to investigate suspected bribery and corruption at Thales, without providing more details.

The company denied the allegations on Friday and said the probe related to a contract in Asia. Thales had earlier confirmed investigators from the U.K. and France were looking into four of its entities in the countries

"Thales denies the allegations brought to its knowledge," it said.

The company said it was cooperating with the investigation and that it complies with all national and international regulations.


Write to Pierre Bertrand at pierre.bertrand@wsj.com


(END) Dow Jones Newswires

11-22-24 1023ET