Aussie banks denied interim approval to jointly negotiate with Apple

Sydney

AUSTRALIA'S anti-trust regulator on Friday said it would not grant the country's three biggest banks interim approval to collectively negotiate with Apple Inc to install their own electronic payments applications on iPhones.

Australia's three biggest banks, including the No 1 lender National Australia Bank (NAB), last month lodged a joint application seeking permission to negotiate as a bloc from the Australian Competition and Consumer Commission (ACCC).