The ASX 200 (Index: ^AXJO) (ASX: XJO) was eventful again this week. Here are four big stories you may have missed that affected businesses in the ASX 200 index:
NBN continues to trouble TPG Telecom Ltd (ASX: TPM)
The August reporting month has finished but there are a few that are still to report in September, like TPG did this week.
Apart from the large impairment from cancelling its mobile network construction due to the Huawei ban, TPG felt a bit of pain in its consumer division from the shift to the NBN but its corporate division managed to make up for most of the NBN headwinds.
In a few weeks from now we may know whether TPG will be allowed to merge with Vodafone or not.
Class action against Westpac Banking Corp (ASX: WBC)
It seems Westpac can’t get away from the lawyers this year. The ongoing royal commission saga is annoying and now Westpac is going to court to defend against a class action.
The claim bring brought by Slater & Gordon Limited (ASX: SGH) is that a cash investment option should have been getting a higher return for investors rather than benefiting Westpac as much as it did.
Large founder sales at Pro Medicus Limited (ASX: PME)
More often than not a large share sale by management can mean a bad thing in some way. That may not be the case here as Pro Medicus management each sold 1 million shares, which amounted to around $36 million. Kaching.
The sale should improve the liquidity of Pro Medicus shares and also allows management to diversify their wealth. Indeed, if it were me that owned a large amount of the company, I’d be choosing this time to lighten my position too. But Pro Medicus remains one of the businesses on the ASX with the brightest prospects.
Regulators get more active
It was announced that both the ACCC and ASIC were starting legal proceedings against ASX companies.
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Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.