With de Spiegel Online, we revealed the huge tax-free profits telecom giant, Liberty Global is set to make when it completes the imminent sale of its German and Eastern European cable business to Vodafone.

Liberty, run by billionaire John Malone (above), is set to walk away with a cool €7.2bn profit from just the German part of the business.

What’s more, the company doesn’t plan to pay a single cent in capital gains tax on that profit.

And on top of that, over the eight years that Liberty has owned Unitymedia – its German cable business, it told investors that €3.8bn in cash has been “upstreamed”.

Over the same period, Unitymedia only paid €50m in German corporation tax.

You can read the full article (in German) on the Spiegel Online website

George Turner

Posted by George Turner

George is an investigative journalist and one of the founders of Finance Uncovered. George has a wide variety of interests. Before entering the world of journalism he worked for a senior politician in the UK, and wrote a paper on how the murky world of offshore finance in the UK water industry was giving customers a raw deal. He has written articles on tax avoidance, corruption and the broken housing market. His articles have appeared on the front pages of newspapers in Germany, the UK and South Africa. You can email George at <a=href:"mailto:george@financeuncovered.org" Email