There was bad news for Vodafone shareholders today after its shares fell over 4.5% following a cut in forecasts for the group by stockbroker ABN Amro.
ABN AMRO cuts its 'fair value estimate' for the shares to £1.49 sterling, from its previous estimate of £1.80.
The announcement saw Vodafone lose nearly six pence to close at just under £1.22 sterling, their lowest level since the aftermath of September 11.
A negative report from the Japanese market, where Vodafone has invested over €10 billion also helped the shares travel downwards.
Vodafone shares have now nearly halved their value since the company bought Eircell last year, leaving thousands of Eircom shareholders owners of the stock.
