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Australia’s competition watchdog, The Australian Competition and Consumer Competition (ACCC) accidentally published a day early its decision to block the $15 billion merger between Vodafone Hutchison Australia and TPG Telecom during Australian Securities Exchange (ASX) trading hours. “The leak prompted a 13.5 per cent fall in TPG Telecom’s share price, wiping $1 billion from its market value.” (Source: Colangelo, A (2019) ‘Investors should be furious at watchdog’s deal bungle’ The Sydney Morning Herald.
https://www.smh.com.au/business/companies/i-haven-t-seen-anything-like-it-investors-furious-at-accc-merger-bungle-20190509-p51lmc.html
REQUIRED:
After reading the above extract, explain the fall in the TPG Telecom share price referring to
capital markets research? (Maximum word limit: 500 words) (10 marks)
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