Cabcharge Australia

Cabcharge Australia has been hogging the headlines over the past year as new regulations and rivals threaten its virtual monopoly on taxicab payments in Australia. The company’s joint venture ComfortDelGro has also lost two bus contracts in Sydney, sparking speculation that more could follow. The share price has fallen slightly since we downgraded to Sell on 29 Jun 09 (Sell – $4.99), though it has bounced 36% since reaching a low of $3.57 last November. While the Victorian government’s investigation into the taxi industry is ongoing, the RBA has adopted new rules allowing card companies like Visa to limit...

Cabcharge Australia has been hogging the headlines over the past year as new regulations and rivals threaten its virtual monopoly on taxicab payments in Australia. The company’s joint venture ComfortDelGro has also lost two bus contracts in Sydney, sparking speculation that more could follow. The share price has fallen slightly since we downgraded to Sell on 29 Jun 09 (Sell – $4.99), though it has bounced 36% since reaching a low of $3.57 last November.

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