Mega-tax milestone?1 min read . Updated: 04 Dec 2008, 01:21 AM IST
Vodafone Group Plc, the world’s largest mobile phone services firm, bought 67% of Hutchison Essar Ltd in February 2007 for $ 11.1 billion from the target’s Hong Kong parent Hutchison Telecommunications International Ltd. Hutchison controlled the Indian mobile phone firm through a complex network of firms whose final ownership vested with a Cayman Islands-registered company.
Also See The deal (Graphic)
The shipping-to-telecoms conglomerate, controlled by billionaire Li Ka-Shing, received payment from Vodafone in this firm in Cayman Islands, a tax haven.
Graphics by Ahmed Raza Khan / Mint