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Wednesday, June 2, 2010


Financial Times
VODAFONE FACES NEW PHASE IN TAX BATTLE
Indian tax authorities served Vodafone a new notice yesterday regarding the telecom operator’s acquisition of Hong Kong’s Hutchison in 2007, setting the stage for another court proceeding. The question is whether Vodafone should have paid tax on the USD11-billion purchase. “The Supreme Court granted Vodafone the right of appeal to the Bombay High Court if we disagree with the tax authorities’ determination,” said Vodafone in a statement.
 

CHINA MOBILE IN BOARD SHAKE-UP
FT reports that China Mobile has appointed Wang Jianzhou, CEO of its listed business, as Chairman of the Board. “This move will further complete the leadership system and governance structure of state-owned enterprises, and make the company’s management strategy more scientific and regulated,” said the mobile-operator in a statement. At the same time, China Mobile added that the management restructure was ordered by the Central Organization Department of the Communist Party. The shake-up was met with some confusion among observers, emphasizing the non-transparent nature of Chinese state-owned businesses.

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