BANGKOK: Thailand’s competition regulator has given the nod for British retail giant Tesco to sell its supermarket businesses to the Charoen Pokphand Group, despite monopoly concerns.
“The majority of commissioners agreed that the merger of those businesses market dominance … but it’s not a monopoly,” Thailand’s Office of Trade Competition Commission said in a statement on Friday. Thai Retailers and Wholesalers Association president Somchai Pornrattanacharoen, who was on the regulator’s vetting committee, last month publicly expressed concerns that the deal would grant CP Group a monopoly, according to local media.
The Chearavanont family and its patriarch Dhanin, who control CP Group, are worth an estimated US$27.3 billion and top Thailand’s list of 27 billionaires, according to Forbes.
Now thai own tesco
Lotus you mean ?