The Indian courts dismiss the Vodafone’s petition against $2 billion tax bill. The bill is rooted to the purchase of Hutchison Essar by Vodafone from Hutchison Whompoa back in 2007. Vodafone had paid $11.1 billion for a controlling stake in the Indian cellco, following which the UK based Vodafone recieved a tax invoice claiming a liability of capital gains tax, as most of the assets it bought were based in India. Vodafone had challenged the law by filing a petition which argues that the Indian law at the time of acquisition did not require Vodafone to withhold tax on acquisition, and that capital gains tax was usually paid by the seller, not the buyer. Vodafone is further planning to appeal the descision in the higher courts. In a statement to comment on the case Vodafone said, ‘based on advice received, [Vodafone] continues to believe that the transaction is not subject to tax in India and is confident of a positive outcome ultimately.’
Wireless Federation » archive for 'Hutchison Whompoa'
Vodafone looses petition against $2 billion tax bill (India)
- December 5th, 2008
- 6:50 am
Hutchison Whompoa interested in Eircom’s acquisition (Ireland)
- November 4th, 2008
- 10:45 am
Hutchison Whompoa shows interest in Eircom’s acquisition. Hutchison Whompoa’s group finance director, Frank Sixt, has reportedly met with the Irish operator Eircom’s top execs during the Conference in Dublin. BCM, Eircom’s majority owner is planning to consider bids for Eircom to overcome the debt of EUR 4 billion.
3 UK’s ARPU drops by 5% in H1′08 (UK)
- October 16th, 2008
- 6:08 am
3UK and Ireland see a 16% growth in contract subscribers in H1′08, announced Hutchison Whampoa. 3’s total subscriber base rose to 4.8 million, a growth of 10% in H1′08, with the prepay growing at 1%. 3’s majority subscribers, 3.2 million, are on contract.
The cellco’s maximum added subscribers in H1 were mostly mobile broadband subscribers. 3 has 0.6 million of total mobile broadband subscribers of which majority were added in H1.
The ARPU for 3 subscribers fell by 5% to £37.
PLDT and Hutch sign a MVNO deal in Italy (Italy, Philippines)
- September 29th, 2008
- 6:03 am
Philippine Long Distance Telephone Co.(PLDT)has signed deals with Hutchison Whompoa’s two units for a MNVO in Italy.
The MVNO service will be called “SMART Pinoy,” anchored on the platform of mobile phone unit Smart Communications Inc. The all new MVNO will be offering cheap rates for mobile phone calls and text messaging from Italy to the Philippines.
Additionally, it will offer electronic loading, sharing prepair mobile phone airtime credits, as well as Italy’s most wanted services such as video calls and streaming.
