UPDATE 1-CP Group's $10 bln Tesco deal to test mettle of Thailand's new antitrust watchdog [Reuters]
TESCO PLC S/ADR (TSCDY)
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Source: Reuters
UPDATE 1-CP Group's $10 bln Tesco deal to test mettle of Thailand's new antitrust watchdog (Adds comment from antitrust regulator, updates milestone in 5th paragraph) By Chayut Setboonsarng and Anshuman Daga BANGKOK/SINGAPORE, March 9 (Reuters) - CP Group’s $10 billion deal to buy Tesco PLC’s 2,000 Thai retail outlets marks the end of a three-way tycoon tussle - and the beginning of the first engagement for Thailand’s newly powerful antitrust watchdog. The British grocery chain on Monday chose Dhanin Chearavanont’s operator of 12,000 7-Eleven convenience stores over the Chirathivat family’s Central Group of Companies Ltd - Thailand’s biggest retailer by market capitalisation - and beer magnate Charoen Sirivadhanabhakdi’s TCC Group Co Ltd, said people with direct knowledge of the matter. Interest from the tycoons and their overlapping businesses in a deal only flagged in December has already drawn what sources said was the Thai watchdog’s first pre-transaction warning about antitrust c
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