Sharing ownership, sharing tax troubles as well
Legal and General has a stake of over 3.5% in both Vodafone and Shell while Scottish Widows owns more than 2% in these two MNCs. Among the larger shareholders in Nokia is Goldman Sachs, which owns 3.1% of the handset manufacturer’s equity — it also has very small holdings in the other two MNCs.
To put the tax liabilities in context, Vodafone’s India revenues, in the six months to September 30 were R17,580 crore, up 13.3% year-on-year while global revenues for the telco in 2012 were £46.42 billion. Industry estimates put Nokia India’s revenues for 2011-12 at close to R12,000 crore.
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