By Peter Campbell PUBLISHED: 14:48 EST, 2 September 2013 | UPDATED: 01:34 EST, 3 September 2013 Vodafone will avoid paying any UK tax on huge profits it will make after it sealed one of the largest corporate deals in history yesterday. But thousands of its shareholders will be hammered with a hefty bill on the windfall they will receive. The company is set to gain £84billion from selling its stake in US mobile phone company Verizon Wireless. But due to a loophole introduced under Labour, Vodafone cannot be forced to pay anything to HM Revenue and Customs. The deal will also provide Vodafone with additional cash to pursue its expansion ambitions in Europe
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It is one of the largest deals in corporate history but MPs are furious
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Vodafone will not pay any tax on huge profit, although shareholders will
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It is not the first time the company has been slammed for tax issues
The deal by Vodafone, to sell its entire @placeholder operations, is the third biggest in corporate history.