Italian prosecutors have opened a criminal investigation into BT’s Italian business, compounding the troubles of the British telecoms company that this week revealed a larger-than-expected cost for accounting irregularities in the division.
Fabio De Pasquale, the prosecutor in Milan working on the case, said the probe was focused on allegations of “false accounting and embezzlement” but he would not offer any further information.
Mr De Pasquale is one of the most prominent Italian prosecutors, having led cases against public corruption in the 1990s against Silvio Berlusconi, the former prime minister, and Eni, the Italian oil and gas company, over alleged corruption in Nigeria.
It is not yet known whether the probe is focused on specific individuals, the company or unknown entities. The opening of criminal investigations into alleged wrongdoing at companies is fairly common in Italy and does not necessarily lead to charges being filed. Probes can remain open for several years before being closed or brought to trial.
However, BT declined to comment on whether it, or former BT Italia executives, would be the subject of the investigation.
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