Posts Tagged ‘Tersco Lotus’

The Thai Administrative Court Will Hear Appeal Regarding CP-Tesco Thailand Merger

April 5, 2021

Thailand’s consumer watchdogs petitioned the Administrative Court regarding the Trade Competition Commission’s decision concerning Tesco’s merger with CP Retail Development (CP).
The Foundation for Consumers, a Thai network of 37 consumer advocacy groups, filed this petition with the court on March 14, 2021. They urged the court to issue an injunction to stop the negative impact of the merger on consumers.
The court took up this case on March 22nd, 2021, and ruled that the consumer groups should submit a written explanation of the reasons for the injunction, along with the evidence supporting their claim.
Saree Ongsomwang, secretary-general of the Foundation for Consumers, has requested more time to prepare the written response to the merger.
The members of the group will meet later this week to reaffirm the group’s position on the merger issue.
Saree stands by his statement that the TCC decision violates anti-monopoly laws.
On November 20, 2020, TCC approved the Tesco-CP deal with conditions. CP could not acquire any company in the same industry as Tesco for the next three years.
The TCC believes Tesco’s merger with CP Retail will increase its dominance in the retail sector, but will not become a monopoly. CP owns 7-11 Thailand and Family Mart, a convenience store open 24/7 like 7-11.
However, TCC maintains that the deal is unlikely to harm Thailand’s economic interests or customer interests.
Sakol Varanyu-Wattana, TCC president, recently received a letter from the administrative court.
Sakol believes that it won’t affect the merger since the court has only decided to hear the case and not make a ruling on the CP-Tesco merger.

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