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Stock impact report

How Congo Pushed Millions in Additional Taxes on Foreign Mobile Operators [BNN Bloomberg (Canada)]

Vodafone Group Plc - American Depositary Shares each representing ten Ordinary Shares (VOD) 
US:NASDAQ Investor Relations: vodafone.com/content/index/investors.html
Company Research Source: BNN Bloomberg
la Nation, a presidential mansion overlooking the river in the Democratic Republic of Congo's capital of Kinshasa. When the meeting began, officials from President Felix Tshisekedi's administration started grilling the executives, mostly foreign nationals who represented Vodafone, Orange, Airtel and Africell, according to people in attendance. The bureaucrats informed them that the government was preparing strict new rules that would raise their companies' tax bills significantly. As the CEOs began to protest, a White man with dark hair who had been silently sitting in the back of the room broke in to tell them that they'd better comply, the people said. This was Philippe Heilmann, a Belgian national and the head of the Congolese offshoot of a Swiss consulting firm that describes itself as a “technology-driven company that provides digital-enabled solutions to public and private organizations.” The firm, 5C Energy RDC, had previously partnered with the Tshisekedi administration Show less Read more
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