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ASX 200 To Open Lower, 3 ASX Shares To Watch

The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) went down by 0.30% on Thursday.

Australian Dollar ($A) (AUDUSD): 69.92US cents

Dow Jones (DJI): down 0.54%

Oil (WTI): $US61.70 per barrel

Gold: $US1,284 per ounce

ASX Sharemarket News

In ASX sharemarket news, New Zealand investment business Infratil Ltd (ASX: IFT) has confirmed that it and another party are in discussions with Vodafone Group Plc (the parent UK company).

The discussions are about a potential transaction involving acquiring Vodafone New Zealand.

However, the discussions with Vodafone and financiers are ongoing and incomplete according to Infratil. There is no guarantee that a transaction will occur, Infratil will update the market if there are any more developments.

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TPG Telecom Ltd (ASX: TPM) will be on watch again today after the fateful decision of the ACCC to block a merger between Hutchison Telecommunications (Aus) Ltd (ASX: HTA) and TPG.

Both TPG and Hutchison are launching legal action to try to get the merger through in the Federal Court of Australia. The decision by Rod Sims seemed to be imploring TPG to build its own mobile network infrastructure and be a fourth large competitor.

However, TPG Executive Chairman David Teoh has said that TPG will not be building a mobile network and even if TPG wanted to the required technology is not available because of the Huawei 5G ban.

Popular Stories:

Property portal business REA Group Limited (ASX: REA) has revealed how its March 2019 quarter went in terms of profit and revenue.

For the three months to 31 March 2019, revenue increased by 7% to $198.6 million, EBITDA grew by 6% to $110.7 million (click here to learn what EBITDA means) and free cash flow went up 27%.

REA Group CEO Owen Wilson said: “Our ability to continue to deliver growth despite the significant market headwinds is testament to the strength of our business.”

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