March 31 (Reuters) - Australian Competition And Consumer Commission-
* ACCC denies authorisation for banks to collectively bargain with Apple and boycott Apple Pay
* "ACCC is not satisfied, on balance, that the likely benefits from the proposed conduct outweigh the likely detriments"
* "Concerned that the proposed conduct is likely to reduce or distort competition in a number of markets"
* Says banks sought authorisation to bargain with Apple for access to near-field communication (NFC) controller in Iphones, reasonable access terms to App store Source text: (bit.ly/2nB5YZw) Further company coverage: