Skip to content
Subscriber Only

Vodafone Tax-Case Victory Clears Way for Indian Wireless IPO

Vodafone Group Plc’s victory in a four-year-long tax dispute in India clears the way for an initial public offering that may value its local mobile-phone unit at as much as 11.3 billion pounds ($17.6 billion).

Yesterday’s decision by India’s top court to dismiss the government’s demand for $2.2 billion in taxes from Vodafone on its 2007 purchase of Hutchison Whampoa Ltd.’s Indian business removes a major obstacle for the planned IPO. Vodafone Chief Executive Officer Vittorio Colao said as recently as July that the company hadn’t been able to proceed with a listing as the tax dispute created an “uncertain” regulatory environment.