HONG KONG: The Thailand and Malaysian operations of Britain’s largest supermarket chain Tesco Plc are on the shopping lists of Thai tycoons.
CP Group and Central Group are holding discussions with financial advisers preparing for separate bids, said the people, who asked not to be identified as the information is private. TCC Group, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has also expressed interest, the people said. Tesco is expected to call for initial bids for the businesses as soon as next month, the people said. Companies might decide against making any offer as deliberations continue, the people added.
Tesco has more than 2,000 hypermarkets and convenience stores in Thailand under the “Tesco Lotus” brand. The chain was founded by CP Group in 1994 and later taken over by the British firm, according to its company website.