BofA/Merrill is downgrading Vodafone (VOD -1.2%) to Hold. While liking Vodafone's top-line...

|About: Vodafone Group Plc (VOD)|By:, SA News Editor

BofA/Merrill is downgrading Vodafone (VOD -1.2%) to Hold. While liking Vodafone's top-line growth and dividend yield, the firm is worried about slumping Italian profits, Indian spectrum costs, a relatively high P/E (currently 14), and the potential end of 45%-owned Verizon Wireless (VZ) and AT&T's (T) duopoly power in the U.S.