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Jefferies downgrades Vodafone ahead of annual results on tough industry conditions

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Jefferies on Friday downgraded Vodafone Group Plc for the first time in two years, citing the telecom group's vulnerability in tackling rising inflation and headwinds in Germany, ahead of the company's annual results next week.The world's second largest mobile operator must be 'cautious' while providing

Jefferies on Friday downgraded Vodafone Group Plc for the first time in two years, citing the telecom group's vulnerability in tackling rising inflation and headwinds in Germany, ahead of the company's annual results next week.

Vodafone is already facing pressure from Europe's largest activist fund Cevian Capital to simplify its portfolio, enhance its strategy in key markets and boost returns.

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