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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Vodafone Group plc    VOD   GB00B16GWD56

VODAFONE GROUP PLC (VOD)
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OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

Vodafone Group plc : India Minister : Vodafone Hasn't Asked To Settle Tax Case

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05/08/2012 | 12:34pm CEST

U.K. telecom giant Vodafone Group PLC (VOD.LN) hasn't approached the Indian government to seek an out-of-court settlement regarding a $2 billion tax dispute, a federal minister told lawmakers Tuesday.

S.S. Palanimanickam, India's junior minister for finance, was responding to questions from lawmakers on whether Vodafone had asked for a settlement.

Palanimanickam said also that the Indian government hasn't ordered the reopening of cases similar to the Vodafone issue.

"The decision to reopen or not reopen [cases] is taken by the accessing officer on the basis of facts and circumstances of each case. The government has not issued any direction in this regard", he said.

He added that there is a six-year time limit on reopening cases, despite any retrospective amendments.

Indian authorities hit Vodafone with a $2 billion tax demand for its $11.2 billion purchase of Hutchison Whampoa Ltd.'s Indian assets in 2007.

But on Jan. 20 this year, India's Supreme Court agreed with Vodafone's argument that no tax was due as the deal was between two foreign companies -- a Dutch unit of Vodafone and a Cayman Islands-registered unit of Hutchison -- and conducted outside India.

But the government then proposed amending laws which would allow it to tax international transactions retroactively if they involve the transfer of local assets.

The proposal is pending parliament's approval.

 
  --By Mukesh Jagota and Kenan Machado, Dow Jones Newswires; +91 22 6145 6107; [email protected] 
 

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Financials (€)
Sales 2019 46 423 M
EBIT 2019 4 919 M
Net income 2019 2 578 M
Debt 2019 31 523 M
Yield 2019 6,93%
P/E ratio 2019 20,78
P/E ratio 2020 17,35
EV / Sales 2019 1,90x
EV / Sales 2020 1,89x
Capitalization 56 797 M
Technical analysis trends VODAFONE GROUP PLC
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 2,67 €
Spread / Average Target 25%
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Managers
NameTitle
Vittorio Amedeo Colao Chief Executive Officer & Executive Director
Gerard Johannes Kleisterlee Chairman
Nicholas Jonathan Read Group Chief Financial Officer & Executive Director
Johan Wibergh Group Technology Officer
Samuel Esson Jonah Independent Non-Executive Director
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