The Trade Competition Commission (TCC) has ruled in favour of the CP-Tesco acquisition deal but imposed certain conditions, including a three-year ban on an acquisition in the same sector, in a bid to cushion any impacts that the transaction may cause.
Somsak Kiatchailak, secretary-general of the Office of the TCC (OTCC), said the acquisition by CP Group will increase its market dominance, but the deal will not constitute a monopoly.
A commission majority also thought the deal could significantly reduce competition in the sector but would not cause adverse impacts on the economy or the interests of consumers at large.
The approval came after months of scrutiny by the TCC whose role is to curb monopolies and ensure fair trade competition.
Under a 2017 law, proposed mergers that could lead to market dominance or a monopoly must be reviewed by the OTCC. Dominance is…
