Consumers browse goods at a Tesco Lotus hypermarket. (Photo by Varuth Hirunyatheb)
The controversial acquisition of Tesco by CP Group could leave lasting damage on the economy, several trade commissioners have warned.
The government’s competition watchdog approved the Group’s US$10.6-billion acquisition of the British supermarket’s Thai operations last week. The deal would see CP acquire 86.9% of Tesco’s Thai operations and 100% of the UK retailer’s Malaysian business, prospects that many say give the company an unfair hold on all segments of retail in Thailand.
Santichai Santawanpas, commissioner of the Office of Trade Competition Commission (OTCC) and the office’s spokesman, one of…
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