CP's Tesco deal yet to be approvedThe Office of Trade Competition Commission (OTCC) has asked Charoen Pokphand Group (CP) to submit more documents concerning the group's mega-deal to acquire 86.9% of the Thai business of Tesco and 100% of the UK retailer's Malaysian business. Sakon Varunyuwatana, chairman of the OTCC, told media yesterday that CP filed documents last week but the OTCC has yet to approve the deal which is valued at US$10.6 billion (332 billion baht). The OTCC has asked the group to submit further documents with information about the group's combined market share. The 90-day time frame starts when the OTCC receives complete documents, he said, adding that CP is the party which must set the consideration process in motion. He said the OTCC has set up a special committee to study the acquisition and its impact on the market, and the panel's findings will be taken into account when the OTCC considers the deal.

Source: Bangkok Post July 13, 2020 22:41 UTC