Vodafone verdict in India today

India’s Supreme Court will today announce a long-awaited judgement on Vodafone’s appeal against a $2.2bn (£1.4bn) tax bill arising from the telecoms group’s $11.2bn purchase of a majority stake in Hutchison Essar, India’s second largest mobile phone operator. If Vodafone’s appeal is unsuccessful, it could see its charge double to $5bn due to a penalty for non-payment of tax.