Business
Here’s why the TPG (ASX:TPG) share price surged by 5% today
The TPG Telecom Ltd (ASX: TPG) share price received a boost today after the Australian Competition and Consumer Commission (ACCC) announced that it will not oppose a proposed buyout offer of Amaysim from Optus. This surprising announcement has now opened the door for TPG to make a counter offer for Amaysim’s prized business.
The TPG share price jumped by 4.81% today to $8.07 following the announcement.
What’s the background behind this
Optus had offered $250 million to Amaysim’s shareholders to purchase its business. The proposal had been submitted to the ACCC for review, before being given the green light today by the competition watchdog.
Today’s decision was seen to be significant by market analysts, especially since…
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