Vodafone examines Ono tax fraud claims

Vodafone examines Ono tax fraud claims
British firm Vodafone purchased cable company Ono for €7.2 billion ($9.13 billion) earlier this year. Photo: Justin Tallis/AFP
Mobile phone giant Vodafone said Monday it was investigating allegations of tax fraud at its recently-acquired Spanish unit Ono.

It comes after a recent report in Spanish newspaper El Pais that cable company Ono had failed to declare an amount of value-added tax in alleged fraud before Vodafone's takeover earlier this year.

Vodafone said that as soon as it became aware of the issue, the company "instigated a forensic audit to investigate the facts relating to the alleged fraud".

"As this matter remains under investigation, we cannot comment further," it said.

 The British firm purchased Ono for €7.2 billion ($9.13 billion).


Member comments

Become a Member to leave a comment.Or login here.