Feature

Vodafone puts £2bn aside for tax

Vodafone's latest accounts indicate a £2.1bn provision to cover a long-running tax dispute with the Inland Revenue relating to its takeover of Mannesmann six years ago. The deal went through a subsidiary in Luxembourg, which Vodafone says was a legitimate business entity and not just a vehicle for reducing its tax liability. A final outcome to the litigation is not expected until 2009.