MADRID, SPAIN/LONDON, UK: Mobile phone giant Vodafone said on Monday it was investigating allegations of tax fraud at its recently acquired Spanish unit Ono.
Madrid: Spanish newspaper El Pais says that cable company Ono had failed to declare an amount of VAT. (Image: Enrique Dans, via Wikimedia Commons)
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-bn ($9.13bn).
Source: AFP, via I-Net Bridge