Vodafone share price: CEO Colao meets India’s Finance Minister

on Dec 3, 2013
Updated: Oct 21, 2019

iNVEZZ.com, Tuesday, December 3: Vodafone Plc’s (LON:VOD) chief executive officer Vittorio Colao today met with India’s Finance Minister P. Chidambaram. The two are believed to have discussed a long-pending Rs11,200 crore tax liability issue, The Economic Times reported.

In other Vodafone news, the company announced today that it has appointed ex-Bupa chief executive officer Val Gooding as a non-executive director, making her the third female on the 13-member board.
In today’s trading Vodafone shares were flat at 226.15p as of 14:45 UTC.
Trade these shares now through Hargreaves Lansdown from £5.95 per deal.
**Tax dispute**

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“It’s always good to talk,” Vodafone’s CEO told reporters, but did not take questions from them, The Economic Times said.
The UK telecoms giant, which is the world’s second-largest mobile carrier after China Mobile, is facing a tax liability of more than Rs11,200 crore, along with interest, on its 2007 acquisition of Hong Kong-based Hutchison Whampoa’s stake in India’s telecoms group Hutchison Essar.

The Indian government has proposed a non-binding conciliation to sort out the dispute. The company has said that it continued discussions with the government to establish a framework to resolve the issue.

Vodafone has been expressing it willingness to reach a friendly resolution to the dispute, but there have been differences over the rules under which the dispute should be taken up.

**A seasoned non-executive**
Also today the telecoms group appointed a “seasoned” and “well-respected” non-executive director in the face of ex Bupa CEO Val Gooding. Gooding has had spells as a non-executive at the BBC (from 2008 to 2011), Cable & Wireless Communications, Sainsbury’s (LON:SBRY) and Standard Chartered (LON:STAN). Currently she is non-executive chairman of FTSE 250 electronic components manufacturer Premier Farnell (LON:PFL).

Vodafone reportedly paid its independent directors a basic salary of £115,000 last year.
**As of 15:30 UTC buy Vodafone shares at 226.25p**
**As of 15:30 UTC sell Vodafone shares at 226.20p**
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