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Vodafone India Tentatively Plans IPO

Vodafone India, which is fighting the government on the issue of tax on its acquisition of Hutchison's stake in Hutchison-Essar in 2007, today said preparations are on a for initial public offer but shareholders will take a final call on the public float. The British telecom giant Vodafone had acquired Hutchison stake in Hutchison Essar in 2007. It got mired in a controversy over withholding tax issue . The matter went to court and the Supreme Court had ruled in its favour. The government now is amending the IT Act to bring into tax net Vodafone-like deals with underlying assets in India.

Read the whole story at The Economic Times »

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