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Comment: Penniless Australian cash-distributor Armaguard drives a hard bargain

By Ryan Cropp ( July 5, 2024, 01:45 GMT | Comment) -- Australia’s cash-in-transit industry has been in a state of permanent crisis for almost a year now, after a monopoly-making merger between Armaguard and Prosegur failed to stave off the structural pressures facing the industry. For Australia’s competition watchdog, though, it has been an unusual experience, with the newly merged company putting its hand out to the country’s banks and retailers mere months after touting the tie-up as one that secured the future of the cash-distribution system. And though the Australian Competition & Consumer Commission has little incentive to punish the financially-stricken company for any alleged misconduct, it has nevertheless repeatedly dropped hints that it is considering its enforcement options.When Australia’s competition watchdog waved through the merger of the country’s last two major cash-in-transit operators in June last year, few antitrust watchers expressed their disapproval....

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