O2 is under investigation by the Serious Fraud Office over allegations of corruption, raising speculation in certain quarters that further investigation is possible. The Sunday Telegraph, which first reported the story, says there was long gossip of such activity, with the sources adding that the industry was like the "Wild West" during periods of sustained development. The newspaper claimed that the O2 investigation followed the operator's management shakeup in XNUMX and the switch from third-party retail channels to direct sales channels.
O2 survey
As a part of this change, O2 created a phone licensing branch which required an auxiliary review by the Financial Conduct Authority (FCA). The operator has since merged with Virgin Media and acknowledged the investigation in a recent financial statement required by the transaction. "O2 has responded to a disclosure request made by government authorities that is related to possible violations of anti-corruption laws and regulations," he said. "O2 continues to collaborate with the government authorities that are studying this ongoing case." The company told investors that if the allegations were proven, it had prepared itself for financial penalties or other costs: to make a reasonable estimate of the result, and recorded a provision in two thousand and nineteen, which is included in our statement of financial position. to the thirtieth of June. , 2.” However, he said he would not provide further details on the investment as he did not wish to interfere with the outcome of the process. Virgin Media OXNUMX has been contacted for comment. Via Telegraph