Tesco sells Thailand supermarket business

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 72%

United States News News

United States United States Latest News,United States United States Headlines

The US$10.6 billion sale to Thailand's biggest conglomerate also covers Tesco's operations in Malaysia. FMTNews Thai

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Now thai own tesco

Lotus you mean ?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in US

United States United States Latest News, United States United States Headlines