India confirms that it plans to demand $3.75B from Vodafone (VOD -1.4%) on its purchase of a...

|About: Vodafone Group Plc (VOD)|By:, SA News Editor

India confirms that it plans to demand $3.75B from Vodafone (VOD -1.4%) on its purchase of a local cellphone carrier in 2007 if the upper house OKs a bill to tax retroactively some overseas mergers going back to 1962. The lower house passed the measure yesterday; the President also needs to approve this surefire way of killing investment. (previous)