Vodafone to avoid tax on US deal

Mobile phone giant Vodafone is reportedly set to avoid paying billions of pounds in tax on its mammoth deal to exit the United States.

In a move likely to stoke controversy over corporate taxation, the group is expected to cut its tax bill on the 130 billion US dollar (£84 billion) sale of its 45% stake in Verizon Wireless to as little as £5 billion from a potential £40 billion charge.
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