Vodafone CEO Vittorio Colao has called the decision by Indian authorities to impose a tax bill on its acquisition of Essar a negative message about the country.
In a video interview with the Financial Times, he explained that Vodafone should not get…
Vodafone CEO Vittorio Colao has called the decision by Indian authorities to impose a tax bill on its acquisition of Essar a negative message about the country.
In a video interview with the Financial Times, he explained that Vodafone should not get punished for creating jobs and deploying assets in India via the acquisition.
A few days ago, the British mobile operator announced that it had filed an appeal to India’s Supreme Court against a ruling that it is liable for up to Rs 120bn (US$2.6bn) in taxes. This followed an Indian court’s ruling that authorities were allowed to seek the tax bill from Vodafone International, a Dutch subsidiary of Vodafone, on its US$11.2bn acquisition of Indian telco company Hutchinson Essar in 2007.
