Vodafone seeks India tax arbitration

Vodafone has sought international arbitration to resolve its tax dispute with the Indian government. It relates to Vodafone's 2007 takeover of Hong Kong-based Hutchison Whampoa's Indian mobile unit for $11bn. Indian authorities have said the firm owes nearly $2.2bn in taxes over the deal, a claim the firm has disputed. India's top court ruled in favour of Vodafone in 2012, but the government changed laws later that year to allow firms to be taxed retrospectively. That development was criticised by investors and also triggered concerns among many foreign firms looking to enter India, according to BBC.