Deals
Vodafone Trying to Intimidate, India Attorney General Says
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A Vodafone Group Plc official’s comment that retroactive taxes discourage foreign investments in India is an “attempt at intimidation” over a $2.5 billion payment dispute, Attorney General Goolam Vahanvati said.
Vodafone is waiting for India’s top court to rule on a government claim that it owes taxes on its 2007 purchase of a 67 percent stake in Hutchison Whampoa Ltd.’s Indian unit. The tax bill could rise to $5 billion including penalties, Vodafone Chief Financial Officer Andy Halford told reporters in New Delhi last week.