Wednesday 23rd June 2010
Dear Reader,
An international story for a change...
NEW ARTICLE
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?
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