Vodafone Shares Lose Ground on Macquarie Downgrade

Shares of Vodafone (VOD) - Get Report are down on Monday after the U.K.-based telecom company was downgraded to NEUTRAL from OUTPERFORM by an analyst team at Macquarie. The analysts wrote that Vodafone's recent efforts to do a joint-venture deal with Liberty Global (LBTYA) - Get Report signaled a 'desperation to do deals,' that's according to a report from The Deal. Shares of Vodafone slipped last week as well after the company announced plans to merge with Sky Network in a $2.4 billion deal.