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Australian banks could use their market power against us, Armaguard says

By James Panichi ( April 28, 2025, 06:37 GMT | Insight) -- The market strength of Australia’s largest banks would allow them to hold the country’s only significant cash-delivery provider to ransom if they decided to leverage their “immense amount of countervailing power,” Linfox Armaguard has told the antitrust regulator. In a partially redacted submission, Armaguard said the banks were “the most critical of our suppliers” while also being “our most significant competitors in cash services.”The market strength of Australia’s largest banks would allow them to hold the country’s only significant cash-delivery provider to ransom if they decided to leverage their “immense amount of countervailing power,” Linfox Armaguard has told the antitrust regulator....

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