Vodafone boss cleared of corruption charges

£52m payments strictly legit...

£52m payments strictly legit...

Vodafone supremo Chris Gent has been cleared of corruption charges by German regulators investigating last year's £113bn hostile takeover of Mannesmann. Gent was under suspicion after it emerged personal payments of £52m were made to Mannesmann board members as part of the deal. However, the Sunday Times reports the German regulator now accepts that the payments were made after the deal was agreed, and were not used as "sweeteners" to woo board members. Gent's role was put under the spotlight when influential German union boss Klaus Zwickel accused him of impropriety. Zwickel has now changed his story after documents were brought to light showing his signature accepting the pay-offs. For related news, see:
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