Vodafone, the world’s second-largest mobile operator, raises its profit forecast for the year via ReutersBiz
LONDON - Vodafone said its future in India could be in doubt unless the government stopped hitting operators with higher taxes and charges, after a court judgment over license fees resulted in a 1.9 billion euro group loss in its first half.
Vodafone had asked the government for a relief package comprising a two-year moratorium on spectrum payments, lower license fees and taxes and the waiving of interest and penalties on the Supreme Court case, which centered on regulatory fees. Vodafone has clashed with Indian authorities over tax and regulatory issues ever since it entered the country with a $11 billion deal to buy 67% of Hutchison Essar in 2007.
It said organic service revenue rose 0.3% in the first half, as it returned to growth in the second quarter, while organic core earnings rose 1.4%.
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