Tesco’s planned sale of its Thai operations will be subject to close scrutiny, Thailand’s competition regulator has warned, adding that he is prepared to impose fines or ban the deal outright if any laws were to be breached.
The comments from Sakon Varanyuwatana, chairman of Thailand’s Office of Trade Competition Commission, signalled that the deal, expected to be worth US$8 billion—US$98 billion and one of Asia’s biggest M&A transactions this year, could face regulatory opposition. Three of the expected bidders already have significant Thai retail operations.
“We have to consider the operation in 360 degrees and study whether it would have any anti-competitive structure or behaviour after the merger or not,” said Mr Sakon. “We have the authority to prohibit the merger or acquisition if we believe it will lead to a monopoly.”
UK grocery group Tesco announced last month that it had begun a review of strategic operations for its businesses in Thailand and Malaysia, including “evaluation of a possible sale.” It has 1,967 stores in Thailand, plus a number of shopping centers, and 74 outlets in Malaysia.
Full Content: Financial Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI