UK watchdog flags competition concerns over Brink's $6.6 billion NCR Atleos deal

UK Regulator Raises Competition Concerns as Brink's Pursues $6.6B NCR Atleos Deal

Competition and Markets Authority Scrutiny of Brink's Acquisition

Initial Concerns Raised by the CMA

Sept 30 (Reuters) - Britain's competition watchdog on Wednesday said cash management firm Brink's Co's $6.6 billion acquisition of ATM provider NCR Atleos could weaken competition in the UK market.

Timeline and Next Steps

The Competition and Markets Authority (CMA) gave the parties until October 7 to offer undertakings to address the concerns, failing which it said it would refer the proposed merger to an in-depth Phase 2 investigation.

Details of Overlap Concerns

Meanwhile, Brink's said the regulator's overlap concerns relate to its NoteMachine and TestLink ATM businesses in the UK and NCR Atleos' Cardtronics business. The CMA's Phase 1 decision was expected, the cash management firm said.   

Brink's Response and Proposed Actions

TestLink UK is part of the NoteMachine business, and Brink's said it has already decided to propose a sale process covering both. 

Statements from the Parties Involved

NCR Atleos, which provides ATM and self-service banking solutions, said it did not have any comment to make beyond Brink's statement.

Reporting Credits

(Reporting by Nithyashree R B in Bengaluru; Additional reporting by Anushka Chourasia; Editing by Jonathan Ananda)