Why Vodfone (VOD) Is Falling Today

NEW YORK (TheStreet) -- Vodafone (VOD) was falling 3% to $39.84 Friday following reports that the telecom signed a preliminary agreement to buy Spain's Ono.

Two sources familiar with the matter told Reuters that Vodafone recently met with the cable group to discuss an acquisition. The discussions come just two weeks before Ono's planned IPO on the Madrid stock exchange on March 13. Because of the impending IPO one source said the telecom's offer would have to be "substantial."

Must read: Warren Buffett's 10 Favorite Dividend Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

VOD ChartVOD data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

If you liked this article you might like

Wall Street Overlooks Trump's North Korea Threats to Hit New Records

Stocks on Track for Records Even as Trump Goes After North Korea

T-Mobile, Sprint Deal Talk Lead Telecom Stocks to Post Big Gains

T-Mobile US, Vodafone Group, Dollar Tree: 'Mad Money' Lightning Round

Bears Are Looming Over Amazon: Cramer's 'Mad Money' Recap (Wed 8/23/17)