A proposed merger of billionaire Lindsay Fox’s Armaguard and rival cash distribution and ATM operator Prosegur could increase the cost of providing cash services to customers, the Reserve Bank, Commonwealth Bank and Woolworths have told the competition watchdog.
Linfox Armaguard and the local arm of Spanish-owned Prosegur have applied to the competition regulator to become a single player with about 90 per cent market share.
Loading...
John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
