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Asia

India to Vodafone: $2.5B Please

11:00 AM -- Just ahead of a High Court hearing, due Monday, Vodafone Group plc (NYSE: VOD) has been handed a formal notice asking it to pay 112.18 billion Indian rupees (US$2.52 billion) in tax related to its 2007 $11.1 billion acquisition of Hutchison Essar, reports The Associated Press. (See Vodafone Wins Battle to Buy Essar.)

Naturally, the mobile giant, which has built up Vodafone India to be India's third-largest mobile operator with more than 113 million customers, is disputing the tax claim. (See Euronews: Sept. 9 and Vodafone Unveils India 3G Timeline .)

— Ray Le Maistre, International Managing Editor, Light Reading

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