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Australia: Cabcharge gets green light to buy Yellow Cabs

By  |  June 22, 2017

Cabcharge will see a greenlight from the competition watchdog to buy the Yellow Cabs network in Queensland for $20 million dollars.

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    The ACCC is saying that the deal would not reduce competition because there are a variety of payment systems and the taxi industry is already under pressure from ride-sharing services like Uber.

    Cabcharge entered, in February, into an agreement to buy Yellow Cabs, which has a 50 per cent market share in Brisbane.

    “The ACCC found that it was unlikely the acquisition would result in Cabcharge foreclosing competition from alternative non-cash payment system providers, as there are a number of alternative systems available and it is drivers who choose which system to use,” ACCC Commissioner Roger Featherston said.

    Full Content: The Sidney Morning Herald

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