Cairn Energy Surges After Vodafone’s India Tax-Spat Win

Sept. 25, 2020, 3:48 PM

Cairn Energy jumped 13% to close on Friday, following a decision by an international arbitration tribunal against the Indian government’s effort to claim past taxes from Vodafone.

  • Cairn also has a pending retrospective $1.6 billion tax dispute against India; the energy firm said in March it expects a favorable ruling
  • NOTE: Cairn stock remains down 31% this year vs Stoxx 600 Oil & Gas Index’s 42% decline

--With assistance from Joe Easton.

To contact the reporter on this story:
Kasper Viita in London at kviita1@bloomberg.net

To contact the editors responsible for this story:
Beth Mellor at bmellor@bloomberg.net

Jon Menon ...

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