The TPG Telecom Ltd (ASX: TPM) share price has climbed 6% to $6.90 today, despite the benchmark S&P/ ASX200 (ASX: XJO) index shedding 1% in afternoon trade.
Last Thursday shares in TPG Telecom dived 16% after the competition regulator the ACCC revealed it had "issues" with TPG's proposed merger with Vodafone Hutchinson Australia. According to the ACCC it thinks any merger could in the future prevent TPG from competing on its own on a standalone basis in the mobile space, with Vodafone potentially not going on to compete on its own in the nbn home internet space.
TPG's share price rise today may be the result of bargain hunters buying the stock in anticipation of the ACCC having its mind changed prior to a March 28 deadline for it to hand down its final decision.
The NBN-battered telco and internet services space is having a rare good day today, with the Telstra Corporation Ltd (ASX: TLS) share price up 1% to $2.95 and the Vocus Group Ltd (ASX: VOC) share price up 3.3% to $3.46.
