VODAFONE GROUP PUBLIC LIMITED COMPANY
Vodafone's potential US$2bn+ claim against Hutch
After selling its Indian business to Vodafone in 2007, HTIL shrank itself by distributing proceeds, as well as its HK business, to shareholders, leaving far less in net tangible assets than the US$2bn+ Indian capital gains tax claim now levied against Vodafone. HTIL was privatised last month. If the tax is upheld, Vodafone may claim it back under an HTIL indemnity. How much is that worth now, and will HWL shareholders carry the can? (23-Jun-2010)
After selling its Indian business to Vodafone in 2007, HTIL shrank itself by distributing proceeds, as well as its HK business, to shareholders, leaving far less in net tangible assets than the US$2bn+ Indian capital gains tax claim now levied against Vodafone. HTIL was privatised last month. If the tax is upheld, Vodafone may claim it back under an HTIL indemnity. How much is that worth now, and will HWL shareholders carry the can? (23-Jun-2010)
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