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<keyword id="15492" type="CITY" weightage="100" keywordseo="Vodafone">Vodafone</keyword> India is facing <keyword id="45031" type="PERSON" weightage="100" keywordseo="Tax">tax</keyword> liability and interest amounting to more than Rs 27,000 crore, the company said in its annual report. Vodafone said its Indian subsidiary had received a letter in January 2013, reminding it of the tax demand of Rs 14,200 crore regarding the dispute over acquisition of Hutchinson in 2007. 
 
The company faces tax demand following the retrospective tax amendment brought about in 2012. 
 The report said, “Vodafone International Holdings BV (VIHBV) has not received any formal demand for taxation following the <keyword id="6374292" type="UNKNOWN" weightage="100" keywordseo="Finance-Act">Finance Act</keyword>, 2012, but it did receive a letter on January 3, 2013, reminding it of the tax demand raised prior to the Indian Supreme Court’s judgment and purporting to update the interest element of that demand in a total amount of Rs 142 billion.” 
 
Besides, the UK-based telecom company is also facing tax liability of more than £1billion. These claims pertain to transfer pricing and value-added tax. 
 
According to the report, “Vodafone India (VIL) and Vodafone India Services Pvt Ltd (VISPL) are involved in a number of tax cases with total claims exceeding £1 billion plus interest and penalties of up to 300% of the principal.” 
 
At current rate, £1 billion is worth Rs 9,900 crore. 
 
The Supreme Court had ruled in favour of Vodafone. However, the government of India amended the law with retrospective effect in 2012.

Vodafone India Faces Tax Liability Of More Than Rs
27,000 Crore

Telecommunication player Vodafone is reportedly planning to slash hundreds of jobs, mostly at its London-based headquarters, to cut costs in the global economic slowdown. The Financial Times reported that this will be the company's "biggest round of job cuts in five years". Vodafone employs about 104,000 people globally and 9,400 people in the UK. In November last year, the company said it will cut 1 billion euros ($1.08 billion) of costs by 2026. Its CEO Nick Read stepped down at 2022 end, replaced by chief financial officer Margherita Della Valle for an interim period. Read stepped down as Group Chief Executive and as a Director of Vodafone on December 31, following which he will be available as an adviser to the Board until March 31, 2023. He had said that cost savings measures would "be achieved through streamlining and simplification of the group". In a statement, Vodafone said it was reviewing its operating model, focusing on streamlining and simplifying the group. "We will say more about the changes when we announce our third-quarter results on February 1," said the company. Earlier this week, the company agreed to sell its business in Hungary to a local IT company called 4iG and the Hungarian state for $1.82 billion. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/sharks-reject-this-wearable-sleep-relaxer-startups-product-call-it-a-nonsense-idea/articleshow/96983681.cms">Shark Tank S2 judges refuse to 'get in bed' with this wearable sleep relaxer biz</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/wipro-results-q3-fy23-wipro-sees-fy23-revenue-guidance-between-11-5-12/articleshow/96969117.cms">Wipro sees FY23 revenue growth at 11.5-12%, Q3 profit growth beats analyst expectations</a>

Vodafone Group plans hundreds of job cuts, biggest in 5 years: Report

<div class="KonaFilter image-container display-table"><div><div class="image on-image">The Asahi Shimbun/The Asahi Shimbun via Getty ImagesHuawei CEO Ren Zhengfei.</div></div></div><ul class="summary-list"><li><a href="https://www.bloomberg.com/news/articles/2019-04-30/vodafone-found-hidden-backdoors-in-huawei-equipment">Bloomberg reports</a> that Vodafone found vulnerabilities, or "backdoors," in Huawei equipment, citing anonymous sources familiar with the matter and internal Vodafone documents.</li><li>An academic who reviewed the Vodafone documents told Business Insider that the "vulnerabilities had many characteristics associated with backdoors."</li><li>It's a potentially explosive revelation because US and other intelligence agencies suspect Huawei is a tool for Chinese spying, but there is no public evidence to support this.</li><li>Vodafone and Huawei dispute the Bloomberg report, however, saying the vulnerabilities were resolved.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>Europe's biggest phone company Vodafone found evidence of a number of security vulnerabilities in Huawei equipment which could amount to "backdoors," <a href="https://www.bloomberg.com/news/articles/2019-04-30/vodafone-found-hidden-backdoors-in-huawei-equipment" target="_blank" rel="noopener">according to Bloomberg.</a>The report, which has been disputed by Vodafone and Huawei, is potentially explosive. US and other intelligence agencies suspect Huawei is used as a tool for Chinese spying, but there is no public evidence to support this.Citing internal Vodafone documents from 2009 to 2011 and information from anonymous sources, Bloomberg's report centers on Vodafone's Italian business, which started buying wifi routers from Huawei in 2008.Vodafone managers reportedly became concerned about security bugs in the routers in 2009. By 2011, Vodafone Italy launched a probe, which Bloomberg claims found a security vulnerability in telnet - the text-based interface that lets users configure their home routers.Bloomberg reports that the documents show Vodafone requested that telnet be removed, which Huawei agreed to do and said the problem was fixed. However, subsequent testing found telnet was still present, at which point Huawei refused to remove it entirely, reportedly citing manufacturing requirements.Read more: <a href="https://www.businessinsider.com/huawei-how-allies-are-reacting-to-us-calls-to-avoid-the-tech-firm-2019-2?r=US&amp;IR=T">The Trump administration is warning allies to stay away from a powerful Chinese company - but not everyone's listening</a>Separately, sources familiar with the matter also told Bloomberg that Vodafone identified vulnerabilities in two other parts of its fixed access network: Optical service nodes (which transport internet traffic over optic fibres) and broadband network gateways (which process subscriber authentication and internet access).The report comes at a sensitive time for Huawei, as the US has repeatedly warned allied countries against using Huawei's 5G equipment on the grounds that similar vulnerabilities might provide a vantage point for the Chinese government to spy. Huawei vehemently denies this.<h2>Vodafone disputes Bloomberg's findings</h2>Vodafone disputes Bloomberg's characterisation of events. It said that all the vulnerabilities noted in the story were resolved and there was no evidence of unauthorised access. A Vodafone spokesman told Business Insider:"Bloomberg is incorrect in saying that this 'could have given Huawei unauthorized access to the carrier's fixed-line network in Italy.' In addition, we have no evidence of any unauthorised access."This was nothing more than a failure to remove a diagnostic function after development. The issues were identified by independent security testing, initiated by Vodafone as part of our routine security measures, and fixed at the time by Huawei."Vodafone's spokesman also specifically refuted Bloomberg's characterisation of telnet. "The 'backdoor' that Bloomberg refers to is telnet, which is a protocol that is commonly used by many vendors in the industry for performing diagnostic functions. It would not have been accessible from the internet," he said.A Huawei spokeswoman told Business Insider that the issues were "addressed at the time." However, sources involved in the companies' discussions told Bloomberg that the vulnerabilities persisted past 2012 and cropped up in other European markets including the UK, Germany, Spain, and Portugal.<h2>"These vulnerabilities had many characteristics associated with backdoors"</h2>Stefano Zanero, an associate professor of computer security at Italy's Politecnico di Milano University, reviewed the Vodafone documents handed to Bloomberg.He told Business Insider that vulnerabilities identified by Vodafone had "many characteristics associated with backdoors," but there is no way to prove whether they were deliberate."These vulnerabilities had many characteristics associated with backdoors: They were not a 'mistake' but an intentional feature; they were not configurable or disclosed/documented to users, but had to be discovered through testing; and most importantly, they were removed at request of Vodafone and subsequently readded in a slightly different way," Zanero said.He also said Vodafone's description of telnet was outmoded. "While it is true that telnet was in the '90s used to perform such tasks, it has been abandoned in favor of more secure protocols, and more importantly this 'management interface' [telnet] was unknown to Vodafone, not documented and - once removed on their request - placed again against their will," he added.The question of intent versus incompetence has been an issue for Huawei in the past. <a href="https://www.businessinsider.com/uk-ncsc-huawei-equipment-major-defects-hundreds-security-problems-2019-3?r=US&amp;IR=T">A UK government report found "major defects" in the company's security systems</a>, but concluded they were the product of shoddy engineering, rather than state interference. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/samsung-galaxy-fold-smartphone-foldable-unboxing-2019-4">We unboxed the $1,980 Samsung Galaxy Fold - here's what comes inside</a></h3> <div> </div> </div>

Explosive report claims Europe's biggest phone company found 'backdoors' in Huawei equipment

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Telecoms giant Vodafone mistakenly sent data from more than 1,000 phone numbers, including employees of News <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword>, to Scotland Yard.
<a href="http://www.thetimes.co.uk/tto/news/uk/article4278471.ece">The Times newspaper</a>, which alongside The Sun is published by News UK, reported the revelations on Tuesday.
<a href="http://www.thetimes.co.uk/tto/news/uk/article4278036.ece">The report explains</a> that detectives asked Vodafone for the data as part of an investigation into possible illegal payments made to public officials by journalists. Vodafone was asked to provide information for calls made between 2005 and 2007.
At first it was believed only details from one reporter at News UK (then called News International) were passed on. In the investigation, called Operation Elveden, the Met police used powers under the Regulation of Investigatory Powers Act (RIPA) to obtain the information.
<ul>
<li>Now read: <a href="http://uk.businessinsider.com/british-security-chief-stormed-out-of-an-interview-about-a-telecoms-spy-cable-2014-11#ixzz3KBGOO8U8">Watch Britain's Former Top Spy Storm Out Of An Interview About Phonetapping British Citizens</a></li>
</ul>
But the police actually received data from 1,000s of numbers, <a href="http://www.thetimes.co.uk/tto/news/uk/article4278471.ece">The Times </a>says. Officers claim the error was reported to the Interception of Communications Commissioner's Office in June. Apparently the mistake came to light after a fuller examination. 
Staff at News UK were told about the situation on Tuesday. The Met claims operatives understood the data's sensitivity and it was returned to Vodafone securely, though <a href="http://news.sky.com/story/1380365/vodafone-sends-1700-numbers-to-cops-in-error">there have been suggestions the force was going to use it</a>. Vodafone claims that "human error" led to more numbers being handed over.

Vodafone Accidentally Handed Over More Than 1,000 UK Phone Numbers To Scotland Yard 

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Reuters/Denis BalibouseVittorio Colao, Chief Executive Officer of Vodafone Group, gestures as he speaks during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018.</div></div></div><ul><li>Long-serving Vodafone CEO Vittorio Colao is to step down in October this year.</li><li>He will be succeeded by the telecoms firm's current chief financial officer, Nick Read.</li><li>The announcement of Colao's departure comes less than a week after Vodafone <a href="http://www.businessinsider.com/john-malone-liberty-global-vodafone-deal-2018-5">announced a $22 billion deal with Liberty Global.</a></li></ul> LONDON -Vodafone announced on Tuesday that <a href="https://www.investegate.co.uk/vodafone-group-plc--vod-/rns/board-announces-group-chief-executive-succession/201805150703020432O/">long-serving CEO </a><a href="https://www.investegate.co.uk/vodafone-group-plc--vod-/rns/board-announces-group-chief-executive-succession/201805150703020432O/">Vittorio Colao will step down later this year.</a>Colao, who has been at the helm of the British-based firm for a decade, will stand down in October and will be replaced by Nick Read, Vodafone's current finance director. No reason was given for Colao's departure."Vittorio will leave as his legacy a company of great integrity with strong inclusive values that is exceptionally well-positioned for the decade ahead," Vodafone's chairman Gerard Kleisterlee said in a statement.Colao's legacy includes pulling the company out of the USA by abandoning a joint venture with American telecoms giant Verizon and striking <a href="http://www.businessinsider.com/john-malone-liberty-global-vodafone-deal-2018-5">a $22 billion deal with the world's biggest international TV and broadband company, Liberty Global.</a>That deal was only announced last Wednesday, and if approved by competition authorities, will see Vodafone take control of Liberty Global's operations in Germany, the Czech Republic, Hungary, and Romania. Liberty Global is controlled through voting rights by US billionaire John Malone, the media and telecoms executive <a href="https://www.forbes.com/profile/john-malone/">nicknamed the "cable cowboy"</a> due to his extensive TV and telecoms dealmaking activity in the 1990s.The Vodafone-Liberty Global deal comes during a flurry of activity in the telecoms and media industry. Comcast is currently <a href="http://www.businessinsider.com/comcast-takes-on-21st-century-fox-with-22-billion-sky-takeover-bid-2018-4">locked in a bidding war with 21st Century Fox for European pay-TV group Sky</a> and Comcast is <a href="http://www.businessinsider.com/r-exclusive-comcast-prepares-all-cash-bid-to-gate-crash-disney-fox-deal-sources-2018-5">said to be considering gate-crashing Fox's transaction with Disney.</a>Vodafone runs internet and mobile businesses across 25 countries, including the UK and India. The company has over 500 million mobile customers globally and close to 20 million broadband customers.Alongside the announcement of Colao's departure, <a href="https://www.investegate.co.uk/vodafone-group-plc--vod-/rns/final-results/201805150700080431O/">the firm released a solid set of financial results</a>, reporting a 1.4% rise in organic service revenue for its fourth quarter, beating analyst forecasts of a 1.1% rise. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/rick-rieder-blackrock-yield-income-dividend-inflation-china-risk-2018-4">BlackRock's $1.8 trillion bond chief says Wall Street is looking at the wrong thing when it comes to the yield curve</a></h3> <div> </div> </div>

Vodafone's CEO announces his departure less than a week after making $22 billion deal with 'cable cowboy' John Malone

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERS/Francois LenoirGeneral view of the city of Luxembourg October 11, 2013. Luxembourg's voters will take to the polls in a general election on October 20. </div></div></div>LONDON (Reuters) - "Life in Luxembourg is simply different," says its government website. The same could be said of tax in the Grand Duchy. It's known for its generous tax policies, but what's less familiar is a Luxembourgrule that lets companies cut their income taxes using costs that they haven't actually borne - a break offered by almost no other state.
The rule, which dates back to World War Two, helps companies save hundreds of millions of dollars in taxes each year, a Reuters analysis of the accounts of several major international corporations shows. The profits that escape tax have often not been earned in Luxembourg, but in countries like Britain, the United States and Germany. Those countries may lose out.
New York-listed telecoms group Vimpelcom, U.S. internet group AOL Inc., building equipment maker Caterpillar and UK mobile telecoms group Vodafone are just four of those to have made use of the system, accounts for theirLuxembourg subsidiaries show. Other firms have similar arrangements, tax advisers say, but have not made them public.
What these firms can do that companies in most other countries cannot is use notional losses - like a fall in thevalue of an asset that a business still holds - to cut their corporate income tax. In other countries, such an asset would have to be sold, so that the loss is realized, before the company could use it to reduce its tax bill. The only other country to offer a similar tax break is Switzerland, according to 20 tax advisers from a dozen countries interviewed by Reuters; but they said the Swiss are more restrictive.
In the European Union, where some countries use tax incentives to attract corporate investment, Luxembourg's rule is a unique lure. Tax advisers say it has helped attract more than 40,000 holding companies and thousands of high-paying jobs for the population of nearly half a million.
"For a government that wants to collect taxes ... this is just a stupid idea," said Reimar Pinkernell, tax partner in Flick Gocke Schaumburg in Bonn. "But if you don't want to collect taxes, if you are just happy that the company is there, and employs some people, then this is a perfect system."
The leaders of the Group of 20 biggest economies pledged in September to close some international loopholes in company tax, but their plans won't target country-specific practices like Luxembourg's. EU sources said in September the European Commission, the executive arm of the EU, wrote to Luxembourg, Ireland and theNetherlands asking for details of tax deals they had cut with foreign companies, to see if they meet competition rules.
Tax advisers point out that other countries offer different tax breaks to attract investment. The LuxembourgMinistry of Finance said its tax rules are sensible, and not intended to help companies shift profits from other countries.
"A lot of countries use tax competition," said Heather Self, partner at law firm Pinsent Masons in London. "There's nothing wrong with it and there's nothing wrong with companies taking account of different tax rates. Tax is just another cost of business."
Spokespeople for the U.S., UK, French and German finance ministries declined to comment or said it would be inappropriate to comment on another country's tax rules. A spokesman for the EU Commission said the issue was not one it has examined in detail.
<h3>AN "INTERNAL BANK"</h3>
Here's how the rule works. If a company makes an investment, say it buys another firm, and the business turns out to be worth less than it paid, the company will follow international accounting rules to reduce, or write down, thevalue of the asset in its accounts. In countries like Britain and the United States, that impairment does not generate a tax saving. But in Luxembourg it does.
The case of Dutch-based Vimpelcom Ltd, one of the biggest phone operators in Russia with operations inCanada, Italy and North Africa, shows how firms can benefit.
At the end of 2012 a Vimpelcom subsidiary, a holding company called Weather Capital Sarl, made a 1.1 billion-euro ($1.51 billion) write-down in relation to some shares it held in a subsidiary, Weather Capital Special Purpose 1 Sarl, also a holding company. It also reported an 840-million euro decline in the value of a loan it had made tothe holding company.
Under Luxembourg rules, those two losses could save hundreds of millions in tax.
But the loss doesn't give a saving on its own: It must be offset against profits. And Luxembourg's domestic market is too small to make much profit; Vimpelcom doesn't even have a telephone business there.
So the company found another way to benefit.
In January this year, it told investors at a presentation in London that it planned to establish an "internal bank" that would borrow money and lend it on to operating units around the world, to fund their investments.
Henk van Dalen, its Chief Financial Officer at the time, said the company planned to route $13 billion to $15 billion of loans each year through the new financing unit. The in-house bank would generate large profits by charging more in interest than it had to pay. And these profits would escape tax because the financing operation would be based in Luxembourg, where Vimpelcom had big tax losses to use.
The "tax saving" would be $200 million to $250 million each year, van Dalen said.
Vimpelcom declined to comment or answer questions about its Luxembourg operations. Van Dalen did not respond to requests for comment.
It could go on indefinitely, van Dalen told the London meeting, a video of which is available on the company website. "Of course, at a certain moment you will run out of these tax losses and then there will be a new phase developed for the financing company," van Dalen said.
One investor on the video described the structure as "fairly ingenious."
But University of Connecticut School of Law Professor Richard Pomp said the system made no sense. "It's absurd," he told Reuters of the Luxembourg rule. "It gives the taxpayer too much control in managing their tax bill."
<h3>AOL'S LUXEMBOURG MOVE</h3>
Luxembourg's practice was actually inherited from Germany and dates back to the occupation of the Grand Duchy during the Second World War, said Ministry of Finance spokeswoman Veronique Piquard.
Indeed, Germany allowed companies to create such tax losses until 2001, although Berlin was less generous, German tax lawyers say.
Another difference was that while Germany gave deductions for write-downs, if a firm made a profit when it sold an investment, the company would be taxed on that.
In Luxembourg, if the investment goes up in value or is sold at a profit, the gain isn't taxable. Pomp, the University of Connecticut professor, calls that a "one way bet" for companies. "There should be symmetrical treatment," he said. "This is a pure tax incentive."
Tax advisers say Germany changed its approach because it stopped taxing capital gains, so it no longer made sense to give a deduction for losses. Piquard said Luxembourg's treatment of write-downs was not a tax incentive and the tax authority only gave deductions for write-downs which were justified.
The deductions can be quite quickly arranged, as illustrated by the case of internet group AOL Inc.
AOL told investors in its 2009 annual report that it was experiencing weakness in its European display advertising business.
In 2010, it transferred ownership of several European advertising subsidiaries from a British to a Luxembourg-based company.
Months later, that company, AOL Europe Sarl, wrote down the value of the advertising units as part of a 27-million-euro impairment. It then offset this against royalty income totaling 6 million euros, which could otherwise have incurred tax of almost 2 million euros.
Had AOL left the units with the British holding company and taken the losses there, it would not have received any tax benefit.
Piquard declined to comment on individual companies' tax affairs. AOL also declined to comment.
CATERPILLAR'S CONSOLATION
Boosting the appeal of Luxembourg's rule is the fact that many takeovers - more than half, according to some studies - don't work out for the acquirer.
Take Caterpillar, which shocked investors in January by writing down almost all of the value of ERA Mining Machinery Ltd., a Chinese company it agreed to buy for more than $653 million in 2011. Caterpillar cited alleged accounting irregularities at an ERA subsidiary, and the write-down wiped out more than half its earnings for thefourth quarter of 2012.
However, there was some consolation for Caterpillar investors, because the deal was structured through aLuxembourg holding company.
The write-down generated a tax deduction of $445 million that could be used to offset Caterpillar's future income in Luxembourg.
Caterpillar declined to comment.
<h3>VODAFONE'S PROFITS POWERHOUSE</h3>
One of the most successful users of the Luxembourg rule is Vodafone. The losses it built up in Luxembourg are so big the Grand Duchy's approach to taxing write-downs has helped it save billions of euros in taxes over thepast 13 years.
Vodafone became the largest mobile phone company in the world after a buying spree in the late 1990s, with deals such as the $180 billion takeover of Germany's Mannesmann AG. After the tech bubble burst, Vodafone had to write down these assets.
They were held in Luxembourg, which meant that the 70 billion euros in charges it reported could be used to offset future profits.
These have been significant. Since Vodafone's first write-downs in the year to March 2002, just four VodafoneLuxembourg subsidiaries have earned almost 30 billion euros.
Two have been like Vimpelcom's "internal bank". Vodafone Luxembourg 5 Sarl (VL5), made $15 billion in profits from lending to the group's U.S. arm, while Vodafone Investments Luxembourg Sarl (VIL) made 18 billion euros lending to affiliates such as Vodafone's German arm. Interest payments are tax deductible in the United Statesand Germany, so the U.S. and German units' taxable income, which could have exceeded 60 billion euros, was also reduced by this arrangement.
More recently, two other Vodafone subsidiaries have gone beyond lending, to start business operations inLuxembourg. The firms - Vodafone Procurement Company Sarl (VPC) and Vodafone Roaming Services Sarl(VRS) - trade phone equipment and telephone bandwidth between affiliates and external suppliers. Their 300 staff generated an average 1.7 million euros per head in profit in the year to March 2013, compared with a group average of around 44,000 euros per worker.
Combined, these arrangements mean Vodafone reports more profit in Luxembourg than it does in any other country apart from the United States, group accounts show.
And thanks to the tax losses it has built up in Luxembourg, it has paid only around 100 million euros in tax since 2001. If Vodafone had paid the headline tax rate on this profit, it would have faced a bill of almost 9 billion euros.
Vodafone said it did not use contrived arrangements to shift profits. "Vodafone acts with integrity in all tax matters and operates under a policy of full transparency with the tax authorities in every country in which we operate," thecompany said in a statement.
Head of Group Media Relations Ben Padovan said the profits reported in Luxembourg reflected genuine economic activity there and the arrangements had no impact on Vodafone's UK tax bill.
Vodafone added that the decision to hold its investments and base its inter-company financing in Luxembourgreflected a variety of factors including the country's location within the euro zone, "the stability and predictability ofthe tax, regulatory, social and political environment and the availability of relevant skills within the labor market."
If companies do use Luxembourg's rules to avoid taxes in other countries, said Luxembourg tax lawyer Thierry Lesage, then it was up to other countries to change their systems.
The system is "really part of the DNA of the Luxembourg holding (company) taxation system," he said. "As a sovereign state Luxembourg is allowed to determine its fiscal policy."
($1 = 0.7283 euros)
(Edited by Sara Ledwith and William Waterman)

The Unusual Luxembourg Tax Break That Lets Firms Profit From Loss

<a href="http://www.businessinsider.in/searchresult.cms?query=Vodafone+">Vodafone</a> India is looking for fresh talents! The company has added six new campuses to its list across <a href="http://www.businessinsider.in/searchresult.cms?query=management">management</a>, technology and <a href="http://www.businessinsider.in/searchresult.cms?query=engineering+">engineering</a> and legal institutes in the country. 
 ‘Discover’, Vodafone's flagship <keyword id="195290" type="POSITION" weightage="60" keywordseo="Management-Trainee">management trainee</keyword> programme, was launched in 2010. The <a href="http://www.businessinsider.in/searchresult.cms?query=telecommunications+">telecommunications</a> company has hired 440 fresh graduates in the past six years via this programme, reported the Economic times. 
 <keyword id="895432" type="UNKNOWN" weightage="80" keywordseo="Ashok-Ramchandran">Ashok Ramchandran</keyword>, director, HR at <keyword id="6354923" type="COMPANY" weightage="100" keywordseo="Vodafone-India">Vodafone India</keyword> said: "This year our target is 160 management trainees from tier-1 business, technology and legal schools of India. Year-on-year we are increasing our presence in educational institutes. We revisit the list of institutes every year based on organisational needs. 
 
He added that the company hired 145 students with a 58% diversity ratio in 2015. The company headquartered in <a href="http://www.businessinsider.in/searchresult.cms?query=London+">London</a> provided jobs to 78 and 114 trainees in 2013 and 2014 respectively across campuses in the country. 
 
The company also offered more pre-placement offers or PPOs this year. It offered PPOs to 57% interns who did their summer internship with them this year compared to 37% PPOs in 2014. 
 
According to Ramchandran, the firm’s programme ‘Discover’ is a long term business investment for it and enables trainees to work across functions, undergo customised training modules and provides an exposure to Vodafone's growth and career opportunities. 
 Graduates are hired for roles in sales and marketing, HR, <keyword id="25455" type="ORGANIZATION" weightage="60" keywordseo="finance">finance</keyword> and accounts, CA, <a href="http://www.businessinsider.in/searchresult.cms?query=supply+chain+management">supply chain management</a>, IT and technology driven roles in their network. 
 
Ramchandran said the company places a substantially large weightage on performance and potential of current and past ‘Discover’ batches from the respective campuses before revisiting them. 
 
(Image: Reuters)

Vodafone wants fresh ideas, bets big on campus hiring!

New Delhi, Jul 12 () The telecom regulator has asked Bharti Airtel and Vodafone Idea to put on hold specific plans that promised faster speeds to certain priority users, as it questioned whether the network preference came at the cost of deterioration of services for other subscribers. A source said the Telecom Regulatory Authority of India (TRAI) has asked the two operators to withhold the specific plan for the interim period. The TRAI has written to the two operators -- Airtel and Vodafone Idea -- and questioned them about their individual plans that promised faster speeds to certain priority users. The regulator has asked if priority to high-paying customers in those specific plans came at the cost of service deterioration for other subscribers. It has asked the operators how they are protecting the interest of other general subscribers. When contacted, an Airtel spokesperson said: "We are passionate about delivering the best network and service experience to all our customers." "This is why we have a relentless obsession to eliminate faults, and have been consistently recognised by international agencies as the best network in terms of speed, latency and video experience. "At the same time, we want to keep raising the bar for our post-paid customers in terms of service and responsiveness. This is an ongoing effort at our end," the Airtel spokesperson added. The Bharti Airtel had announced last Monday that it would give preference to platinum mobile customers, who pay Rs 499 and above per month for post -paid connection, on its 4G network. The platinum customers will get better 4G speed on the Airtel network compared to other customers. The TRAI has given Airtel seven days to respond to its questions, a person privy to the development said. In case of Vodafone Idea, the company had launched a postpaid plan, REDX, promising up to 50 per cent faster data speeds, besides other benefits and privileges. Asked about TRAI's latest move, a Vodafone Idea spokesperson said: "Vodafone RedX plan offers a range of benefits including unlimited data, calls, premium content, international roaming pack etc. for our valued postpaid customers who want more." "VIL is committed to serve its customers with the best in class offerings and high speed 4G data across all markets. VIL's fastest 4G speed in many markets, including metros, has been verified by global testing agencies, such as Ookla and OpenSignal amongst others," the VIL spokesperson said. Meanwhile, a VIL source, who did not wish to be named, said the company was taken aback at the TRAI's letter over the weekend asking it to block the plan without any opportunity to respond on an important matter such as tariff. The company source said that the RedX plan was filed with TRAI in November and further modifications to the plan were, once again, duly filed in May. The plan has been in the market for last eight months and customers are already on-boarded. The VIL source said the company was of the view that there was no violation of tariff regulation on this plan. MBI HMB

TRAI asks Airtel, Vodafone Idea to hold priority plans promising faster speeds

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.gettyimages.co.uk/license/545323946">Drew Angerer/Getty Images</a>John Malone, businessman and former chief executive of Tele-Communications Inc., attends the annual Allen &amp; Company Sun Valley Conference, July 7, 2016 in Sun Valley, Idaho.</div></div></div><ul><li>Vodafone is buying Liberty Global's operations in Germany, the Czech Republic, Hungary, and Romania for €18.4 billion ($21.7 billion).</li><li>The deal will give Vodafone a much larger mobile and broadband footprint in central and eastern Europe.</li><li>The transaction still needs to be cleared by competition regulators.</li></ul> LONDON - British telecoms group Vodafone has reached a €18.4 billion ($21.7 billion) deal to buy a range of European assets from <a href="http://uk.businessinsider.com/john-malone-cable-cowboy-powerful-person-media-2017-7">billionaire "cable cowboy" John Malone.</a>Vodafone <a href="https://www.investegate.co.uk/vodafone-group-plc--vod-/rns/vodafone-liberty-global-transaction/201805090719424664N/">announced on Wednesday</a> that it has agreed to acquire Liberty Global's operations in Germany, the Czech Republic, Hungary, and Romania. The deal consists of €10.8 billion ($12.7 billion) in cash paid to Liberty Global and €7.6 billion ($8.9 billion) of existing debt that Vodafone will take on.Liberty Global is controlled through voting rights by US billionaire John Malone, the <keyword id="6354777" type="COMPANY" weightage="60" keywordseo="Media">media</keyword> and telecoms executive <a href="https://www.forbes.com/profile/john-malone/">nicknamed the "cable cowboy"</a> due to his extensive TV and telecoms dealmaking activity in the 1990s.Malone, <a href="https://www.forbes.com/profile/john-malone/">who is worth over $7 billion</a>, is also the chairman of Liberty Media in the US, which owns Formula 1 racing and Major League Baseball team the Atlanta Braves. Malone was said to be the driving force behind <a href="https://www.nytimes.com/2015/05/27/business/dealbook/john-malone-charter-cable.html">Charter Communications' $67 billion acquisition of Time Warner in 2016.</a>Liberty Global is the world's biggest international TV and broadband company, operating through brands such as Virgin Media in the UK, Unitymedia in Germany, and Telenet in Belgium. The group also has investments in UK TV producer ITV, film studio LionsGate, and Formula E racing.The deal, <a href="https://www.ft.com/content/aa094110-082c-11e8-9650-9c0ad2d7c5b5">which was first rumoured in February</a>, will supercharge Vodafone's cable internet and mobile telecoms footprint in central and Eastern Europe. Unitymedia, which Vodafone will acquire, is Germany's second-largest cable operator.Vodafone CEO Vittorio Colao said in a statement that the deal is "a transformative combination for Vodafone that will generate significant value for shareholders.""We are committed to accelerating and deepening investment in next-generation mobile and fixed networks, building on Vodafone's track record of ensuring that customers benefit from the choice of a strong and sustainable challenger to dominant incumbent operators," he said.British group Vodafone runs internet and mobile businesses across 25 countries, including the UK and India. The company has over 500 million mobile customers globally and close to 20 million broadband customers.Calao said: "Vodafone will become Europe's leading next generation network owner, serving the largest number of mobile customers and households across the EU."The deal is still subject to regulatory approval and is expected to close in the middle of next year. <a href="http://markets.businessinsider.com/stocks/vodafone-stock">Vodafone shares rose by 1.6%</a> on news of the deal.Liberty Global <a href="http://www.libertyglobal.com/pdf/press-release/Liberty-Global-to-Sell-Operations-in-Germany-Hungary-Romania-and-the-Czech-Republic-to-Vodafone.pdf">said in a separate statement</a> that the assets being sold represent 28% of the operating cash flow of the group.Liberty said it would still be Europe's biggest cable TV and broadband provider after the transaction, with 26 million subscribers across the continent.Liberty Global CEO Mike Fries said in a statement: "In each of these markets, the combination of Liberty Global and Vodafone's businesses will transform the competitive landscape and bring a new level of convergence to customers."Now more than ever, Europe needs strong competition from scaled national challengers willing and able to invest in next-generation wireless, video and broadband services."Morgan Stanley, Robey Warshaw, and UBS advised Vodafone on the deal. LionTree and Goldman Sachs advised Liberty Global.The Vodafone-Liberty Global deal comes during a flurry of activity in the telecoms and media industry. Comcast is currently <a href="http://www.businessinsider.com/comcast-takes-on-21st-century-fox-with-22-billion-sky-takeover-bid-2018-4">locked in a bidding war with 21st Century Fox for European pay-TV group Sky</a> and Comcast is <a href="http://www.businessinsider.com/r-exclusive-comcast-prepares-all-cash-bid-to-gate-crash-disney-fox-deal-sources-2018-5">said to be considering gate-crashing Fox's transaction with Disney.</a>Liberty Global also agreed to sell its Austrian unit to Deutsche Telekom for €1.9 billion ($2.2 billion) last December.<a href="http://read.bi/future-of-media"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/socially-responsible-investing-esg-risk-management-tool-2018-5">How socially responsible investing can help you avoid catastrophic drops within your portfolio</a></h3> <div> </div> </div>

Billionaire 'cable cowboy' John Malone's Liberty Global is selling $22 billion of European assets to Vodafone

<ul><li>In 2007, Indian IT department slapped a demand notice seeking ₹8,000 crore in capital gains tax.</li><li>With penalty and interest included, the tax claim now amounts to ₹22,100 crore.</li><li>Resolution professionals say that all pending litigation have to be wrapped up before liquidating a company.</li></ul>The world’s largest telecom company Vodafone is on its backfoot in the world’s largest telecom market – India. And it is nothing new. Many troubles have dented the company ever it purchased the 67% stake in Hutchison Essar twelve years back. And it's been a nightmare for small investors who have bet on the stock. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 A year before the price wars started eating into the investment, Indian Income Tax department slapped a demand notice seeking ₹8,000 crore in capital gains tax over the deal. Now this ghost which is a ₹22,100 crore liability with interest and penalty included – might haunt the British parent even as it considers liquidation. “All pending litigations have to be cleared before it goes in for liquidation,” Mamta Binani, a resolution professional informed Business Insider India. The case in currently in international arbitration after many dramatic twists. The former UPA government<a href="https://www.business-standard.com/article/companies/vodafone-back-to-square-one-112031700019_1.html"> retrospectively amended a</a> law to tax Vodafone, after the Supreme Court said that Vodafone is not liable as per ‘existing tax laws’. In the last six years, the arbitration has been dragging on at a snail’s pace. In the meanwhile, yet another Supreme Court decision has made Vodafone question the logic of continuing in India, amongst many hurdles. A few days back, its CEO Nick Read said that if Indian government does not provide a relief in the aggregate gross revenue (AGR) case--- it might<a href="https://www.businessinsider.in/business/corporates/news/vodafone-writes-off-book-value-of-indian-operation-ceo-flags-liquidation-risk/articleshow/72031766.cms"> consider liquidation</a>. Indian government is in no mood to relent and has given three months to Bharti Airtel and Vodafone Idea to clear its dues. Vodafone was asked to pay up ₹44,150 crore to the department in piled up AGR dues after it lost a case in the Supreme Court last month. This hit has made Vodafone Idea posted the highest-ever quarterly loss by Indian company at ₹50,000 crore. Should the company fall, it could set yet another dubious record as largest-ever non-performing asset or a dud loan. As per an<a href="https://timesofindia.indiatimes.com/business/india-business/lenders-fear-vodas-rs-1l-cr-turning-into-npa/articleshow/72063199.cms"> Economic Times report</a>, banks have an exposure of as much as ₹1,00,000 crore to Vodafone. These loans are in trouble as most of them lack securities and guarantees. Neither of the two promoters – Vodafone and Kumar Mangalam-led Aditya Birla Group— are keen on infusing equity. In fact, their stock is being sold at the price of hot cross buns -- ₹3 per share with a face value of ₹10. If Vodafone Idea is unable to pay up its lenders, it has assets to fall back on, say experts. “I think the assets, including the network and spectrum are definitely very valuable, so it would not come to a situation where surrendering should be required,” Kunal Bajaj, an independent telecom analyst told Business Insider India. Whether the asset will be able to offset the loans, deferred spectrum payment (not including AGR dues) it owes to the government and the tax claims if at all – is yet to be seen. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/vodafone-idea-share-price-falls-sharply-after-record-loss-in-second-quarter/articleshow/72065283.cms" data-type="tilCustomLink" target="_blank">Vodafone-Idea is now a ₹3 stock after a shocking quarterly loss</a>

Vodafone has to wrap up ₹22,100 crore tax case before it can think of liquidating India business

The choice between motherhood and work is often a difficult decision for women across the globe. However, <keyword id="6354923" type="COMPANY" weightage="80" keywordseo="Vodafone-India">Vodafone India</keyword> women employees needn’t worry about it. The company has come up with a new maternity policy that offers 16 weeks of paid <keyword id="78369" type="UNKNOWN" weightage="80" keywordseo="maternity-leave">maternity leave</keyword>, one working week of paternity leave, and 6 hours per day for 6 months post return from maternity for child care. 
 
“The extended maternity leave and only 30 hour work week for 6 months will help returning mothers transition comfortably into the workplace as well as attend to her child's nursing needs. To benefit the new fathers, the telecom service provider has introduced paternity leave, which will enable them to bond with the baby and be around with the family during this precious family time,” reveals an ET report. 
Vodafone has taken this decision to maintain gender diversity at the workplace and retain women employees. 
 
"Women account for 35% of our employees worldwide but only 21% of our international senior leadership team. We believe our new maternity policy will play an important role in helping to bridge that gap. Supporting working mothers at all levels of our organisation will ultimately result in better decisions, a better culture and a deeper understanding of our customers' needs," he further adds. 
 
This new policy amendment brings cheer to over 1,000 Vodafone women employees across the globe and will also help Vodafone save approximately $19 billion annually. As mentioned in the ET report, “…KPMG estimated that recruiting and training new employees to replace women who do not stay in the workforce after having a baby costs global businesses $47 billion every year, offering women 16-weeks of fully paid maternity leave rather than the statutory minimum would cost businesses an additional $28 billion a year; and if businesses were able to retain more women in the workforce after their maternity leave, they could save up to $19 billion a year and would retain the knowledge and experience of these women with positive consequences for productivity and effectiveness.” 
 
(Image: Reuters)

This is what Vodafone India did to cheer its women employees

Telecom major <keyword id="1553175" type="COMPANY" weightage="20" keywordseo="Vodafone-Idea">Vodafone Idea</keyword> Limited (VIL) on Tuesday announced that it has selected <keyword id="10875" type="CITY" weightage="20" keywordseo="IBM">IBM</keyword> Services to help it embrace open source at scale across the enterprise by implementing the <keyword id="10099317" type="UNKNOWN" weightage="20" keywordseo="big-data-platform">big data platform</keyword> on open source Hadoop framework. The <keyword id="10099318" type="UNKNOWN" weightage="20" keywordseo="ibm-big-data">IBM big data</keyword> platform helps businesses address the "full spectrum" of big data business challenges. BM Services implements data transformation with open technologies to propel Vodafone Idea's hybrid cloud strategy. Vodafone Idea has a need for large scale data transformation with a focus on architecture modernisation, open-source adoption and using predictive analytics for data modernisation. By partnering on this implementation, IBM is helping VIL transform the way data is optimised and delivered to partners, employees and internal systems. Fragmented, siloed data can now be streamlined for seamless data availability, the tech giant said. VIL will also be able to combine insights from the Big Data Platform and better leverage cloud native technologies and artificial intelligence (AI) to enhance revenues, reduce costs and elevate customer experiences, IBM said. "The modernised and future-ready data platform is helping VIL get daily actionable insights to make strategic and operational level decisions effectively," Sandip Patel, Managing Director, IBM India/South Asia, said in a statement. "IBM and VIL team worked together in challenging times of COVID-19 lockdown to seamlessly execute a complex and enterprise-wide deployment remotely," he said. Currently, insights derived from the data are leveraged for management dashboards, campaign management, network analytics, usage traffic analysis, product analysis, amongst others. Vodafone Idea said that the deployment will help millions of its customers with customised and faster service launches. "Along with IBM we have implemented many first-of-kind projects and the big data and analytics engagement is one such initiative," said Vishant Vora, Chief Technology Officer, Vodafone Idea Limited. "The open source approach has helped us in modernising infrastructure and network experience, helping our people and partners in quicker business decision making." IBM last week announced that it will separate its managed infrastructure services unit of its global technology services division into a new public company. The yet to be named new company is currently codenamed "NewCo". SEE ALSO: <a href="https://www.businessinsider.in/tech/news/oneplus-chinese-company-co-founder-carl-pei-exits-company-one-day-ahead-of-flagship-mobile-launch/articleshow/78634270.cms">OnePlus co-founder Carl Pei reportedly exits company one day ahead of flagship smartphone launch</a> <a href="https://www.businessinsider.in/stock-market/news/banking-stocks-like-sbi-hdfc-axis-icici-and-other-share-price-in-the-stock-market-ahead-of-the-moratorium-verdict/articleshow/78633357.cms">SBI, HDFC Bank, Axis Bank and other bank stocks tread caution as they wait with bated breath for Supreme Court verdict on moratorium</a> <a href="https://www.businessinsider.in/defense/news/india-china-disengagement-looks-unlikely-with-more-chinese-troops-reportedly-being-deployed-at-the-border/articleshow/78632960.cms">Chinese PLA is reportedly rotating troops despite India's insistence on disengagement from friction points along the border</a> <a href="https://www.businessinsider.in/science/space/news/mars-will-appear-bigger-redder-and-brighter-on-october-13-and-wont-get-this-close-to-earth-again-until-2035/articleshow/78556539.cms">Mars will appear bigger, redder, and brighter on October 13 — and won’t get this close to Earth again until 2035</a>

Vodafone Idea inks pact with IBM to implement a big data platform

<ul><li>If Vodafone has to pay up $4 billion, it might not be able to survive, say analysts. </li><li>If the market ends in duopoly, there could be a ‘real’ tariff hike in the offing which will spoil the cheap data party for the market. </li><li>India has 581 million data subscribers and many of them consider data a utility. </li></ul>This might be the last year that Indians can stream movies on mobile phones with reckless abandon. Everyone has expected Jio to increase tariffs at “some point in time”. But yesterday’s Supreme Court verdict on adjusted gross revenue (ADR) has hastened it. It means Airtel and Vodafone have to cough up over ₹50,000 crore and will definitely weaken them. What is good news for Jio could also be bad news for customers. There are two possible scenarios from here. If DoT decides to waive the penalties and interests that these telcos have to pay, then Vodafone might survive. If that happens, then Jio will continue with its plan to acquire 500 million subscribers in all and initiate a tariff hike in another year, as per Spark Capital’s predictions. A real tariff hike could hit telecom customers This will also be a ‘real’ tariff hike which means Jio might not just cover the 30% price gap it has with other telecom players, it might go ahead and increase more. For one, Airtel and Vodafone had launched 4G data services at ‘introductory prices’ when the market growth was not as fast. The entry of Jio with ‘cheap’ plans has changed that. Now India has 581 million data subscribers and consumption is also growing indicating an ‘addiction’. It means, the market is just right for a price hike. If Jio rises prices, others will follow suit. A dangerous duopoly might hurt Indian consumers In the second scenario, DoT might not waive tariffs and penalties turning India into a ‘dangerous’ duopoly with only Jio and Airtel left. If Vodafone has to pay up $4 billion, it might not be able to survive, say analysts. In this scenario, Jio will race faster to the finish line as a large number of subscribers are up for grabs. As per the research report, Jio could get a tad more ambitious and increase its subscriber acquisition number to 600 million or more. It would also provide it with around 50-55% of market share and it would provide it disproportionate power to price it as it wants. But these price hikes may be delayed by another year so that Jio has acquire an extra 150 million users. Then again, it might turn vigorous. The other player Airtel will also price aggressively going ahead, bringing India data prices on par with international levels—which will make it unaffordable to the many who enjoy it now.

You Searched For "vodafone international" and got 13 results

Vodafone India Faces Tax Liability Of More Than Rs 27,000 Crore

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Explosive report claims Europe's biggest phone company found 'backdoors' in Huawei equipment

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Vodafone's CEO announces his departure less than a week after making $22 billion deal with 'cable cowboy' John Malone

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Vodafone wants fresh ideas, bets big on campus hiring!

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TRAI asks Airtel, Vodafone Idea to hold priority plans promising faster speeds

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Billionaire 'cable cowboy' John Malone's Liberty Global is selling $22 billion of European assets to Vodafone

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Vodafone has to wrap up ₹22,100 crore tax case before it can think of liquidating India business

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This is what Vodafone India did to cheer its women employees

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Vodafone Idea inks pact with IBM to implement a big data platform

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Whether you use Jio, Airtel, Vodafone-Idea, get ready to pay more for mobile services— sooner than later

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