Views and concerns of OTCC members who opposed CP takeover of Tesco to be made public

[webfact]

Views and concerns of OTCC members who opposed CP takeover of Tesco to be made public

By THE NATION

 

Sakon Waranyuwattana (File Photo)

 

Representatives from Charoen Pokphand (CP) Group on Monday picked up the documents issued by the Office of Trade Competition Commission (OTCC) regarding its resolution by a majority vote allowing CP to acquire Tesco’s Thailand business from Ek-Chai Distribution System, OTCC chairman Sakon Waranyuwattana said.

 

The OTCC on November 6 gave the green light to the deal. A majority of commissioners agreed the merger would not lead to a monopoly, but acknowledged it would increase CP’s dominance in the consumer goods retail segment.

 

The commission also set conditions and remedial measures for the purchaser to mitigate possible market impacts post-merger.

 

“CP will have 60 days to appeal to the Administrative Court in case it disagrees with any part of the OTCC’s resolution or conditions, which is stipulated in the Trade Competition Act BE 2562,” he said.

 

“The verdict given by each of the OTCC commissioners in this case would be made public within the next two weeks.”

 

Sakon added that on Wednesday, the OTCC would hold a meeting to address concerns highlighted by a minority of the commissioners who voted against the acquisition as it could lead to a monopoly or unfair market dominance.

 

Santichai Sarathawanphaet, OTCC spokesman and minority leader, added that the commissioners who voted against the acquisition do not seek to oppose the majority vote after the decision was made. “However, we need to notify the public our reasons for not voting for the acquisition, including our consideration criteria, impacts of the acquisition as well as other related legal issues,” he said.

 

The meeting would be held at the OTCC on Wednesday at 10am, he said.

 

Source: https://www.nationthailand.com/news/30397666

 

-- © Copyright The Nation Thailand 2020-11-10

 

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[hotchilli]

6 hours ago, webfact said:

The OTCC on November 6 gave the green light to the deal. A majority of commissioners agreed the merger would not lead to a monopoly, but acknowledged it would increase CP’s dominance in the consumer goods retail segment.

Thai logic at work.

[mark131v]

6 hours ago, webfact said:

Sakon added that on Wednesday, the OTCC would hold a meeting to address concerns highlighted by a minority of the commissioners who voted against the acquisition as it could lead to a monopoly or unfair market dominance

 

Oh goody another meeting to justify one of the five richest families taking over the retail sector, a veritable licence to print money for all concerned and I bet they wont forget who made it happen!!...

 

6 hours ago, webfact said:

“The verdict given by each of the OTCC commissioners in this case would be made public within the next two weeks.”

 

The verdict was never in any doubt, the only thing in doubt was how many lies would be uttered and just how stupid they think the general public are, turns out it's lots in both cases...