Vodafone downgraded to Neutral from Buy at Davenport Davenport expects Vodafone to reported lower than expected revenue and earnings growth over the year due to the European recession and has concerns regarding its large investment in India. Price target lowered to $30 from $32.
Vodafone's Ono acquisition tainted by tax fraud claims, Telegraph says Britian's Vodafone and Spanish authorities have begun an investigation into allegations of tax fraud at the Spanish cable operator Grupo Corporativo Ono that Vodafone purchased in July for GBP6B, says the Telegraph. Reference Link
Vodafone rumored to prepare bid for TalkTalk, Daily Mail says Rumors have circulated among U.K. trading desks that Vodafone is lining up a cash bid worth GBP4.3B for TalkTalk Telecom, according to The Daily Mail's "This is Money." Shares of Vodafone trading in New York are up over 2% in the pre-market session following the report. Reference Link