Tesco Lotus ordered to pay Bt4bn damage compensation to Big C group

[TallGuyJohninBKK]

Tywais, so is someone going to change the headline and article here in the OP news report to reflect that correction?

[Thai at Heart]

That said, 4mn is hardly going to break anyone's bank, but I will wait for the appeal. These things never move very fast.

The OP article says 4 BILLION.... not million.

In the other paper, and subsequent reports from teh Nation, and other links on the internet, it is apparently 4mn. Why they haven't changed the title of the thread I don't know. But my eyes went wide open when I saw that number, but it would appear to be mistaken.

[TallGuyJohninBKK]

Hey, what's plus or minus 3 zeroes among friends...

[kristophon]

gr8... i suppose this mean mature cheddar will now go over 200 baht a pack....

[Thai at Heart]

Hey, what's plus or minus 3 zeroes among friends...

How they follow all of this loy lan, and pan lan, loy pan lan, is sometimes beyond me. This headline shows the problems.

[TallGuyJohninBKK]

The irony, is Tesco Lotus was set up originally between CP and Tesco, the CP sold out their shareholding, and now through buying Big C, CP ends up on the winning end of a court case against its former partners.

Thai, I've already been wrong once today, and I'm not looking to make it a second time... But I am trying to keep up...

Isn't CP trying to buy Siam Makro, not Big C... I thought Big C's current ownership was entirely separate from CP...

I always see Big C referred to as:

Big C Supercenter Pcl (BIGC), the Thai unit of Casino Guichard-Perrachon SA (CO),

As for CP:

Dhanin and SHV founded Siam Makro in 1988, according to the company’s website.

Charoen Pokphand was once Siam Makro’s largest shareholder with a stake of as much as 47 percent in 1997, the same year that the devaluation of Thailand’s baht triggered a financial crisis that pushed many Asian economies into recession.

After the crisis, Dhanin sold stakes in companies including Siam Makro and Lotus Supercenter, which was bought by Tesco. In May 2005, a Charoen Pokphand unit sold 7 percent of Siam Makro back to the company that controlled the retailer for 60 baht per share.

http://www.bloomberg.com/news/2013-04-23/cp-all-offers-6-6-billion-for-thai-retailer-siam-makro.html

Edited June 26, 2013 by TallGuyJohninBKK

[Chris Lawrence]

This story needs some details.

"The Nation" doesn't know how to do that.

[Chris Lawrence]

Why isn't a fine; why pay the opposition stores? Is Big C going to distibute the money to their consumers. The Department stores have not lost, its the consumer.

[Tywais]

Tywais, so is someone going to change the headline and article here in the OP news report to reflect that correction?

We can't modify original information from the site due to copyright issues even if it is wrong, we can only update with new articles with updated info. Sorry.

[Thai at Heart]

The irony, is Tesco Lotus was set up originally between CP and Tesco, the CP sold out their shareholding, and now through buying Big C, CP ends up on the winning end of a court case against its former partners.

Thai, I've already been wrong once today, and I'm not looking to make it a second time... But I am trying to keep up...

Isn't CP trying to buy Siam Makro, not Big C... I thought Big C's current ownership was entirely separate from CP...

I always see Big C referred to as:

Big C Supercenter Pcl (BIGC), the Thai unit of Casino Guichard-Perrachon SA (CO),

As for CP:

Dhanin and SHV founded Siam Makro in 1988, according to the companys website.

Charoen Pokphand was once Siam Makros largest shareholder with a stake of as much as 47 percent in 1997, the same year that the devaluation of Thailands baht triggered a financial crisis that pushed many Asian economies into recession.

After the crisis, Dhanin sold stakes in companies including Siam Makro and Lotus Supercenter, which was bought by Tesco. In May 2005, a Charoen Pokphand unit sold 7 percent of Siam Makro back to the company that controlled the retailer for 60 baht per share.

http://www.bloomberg.com/news/2013-04-23/cp-all-offers-6-6-billion-for-thai-retailer-siam-makro.html

My mistake. Sorry

Cp just bought makro. Big c bought carrefour. Big c was founded by central and merged with casino group.

Edited June 26, 2013 by Thai at Heart

[GAZZPA]

Precedence set. Congratulations to Tesco-Lotus; not only can this fine be tax-active in the books but they can go and take all those clowns to the cleaners now which all operate with fake/wrong promises on pricing, quality, ingredients, life shelf - the works!

TESsie COhen (the founder's wife's name) must be proud of the local goings. Who's next!

I get so tired of posters posting about something, where they clearly have no knowledge!

The name TESCO originates from T.E.Stockwell (a teatrader) and Jack COhen.

Sir Jacks wife was named Sarah.

This mistake can be forgiven. Many years ago I worked for Tesco and during my induction they claimed the name came from his wife Tessa and his surname. So a bit harsh to say that this person has no knowledge because it was a story that came directly from Tesco HQ until not to long ago.

[transam]

Precedence set. Congratulations to Tesco-Lotus; not only can this fine be tax-active in the books but they can go and take all those clowns to the cleaners now which all operate with fake/wrong promises on pricing, quality, ingredients, life shelf - the works!

TESsie COhen (the founder's wife's name) must be proud of the local goings. Who's next!

I get so tired of posters posting about something, where they clearly have no knowledge!

The name TESCO originates from T.E.Stockwell (a teatrader) and Jack COhen.

Sir Jacks wife was named Sarah.

This mistake can be forgiven. Many years ago I worked for Tesco and during my induction they claimed the name came from his wife Tessa and his surname. So a bit harsh to say that this person has no knowledge because it was a story that came directly from Tesco HQ until not to long ago.

soi41 is right.

[GeorgeO]

"Big C respects the Court's verdict"...

Sorry for seemingly stating the obvious, but are there some circumstances that we are unaware of when the party winning the case would not respect the verdict...?

[TallGuyJohninBKK]

Cp just bought makro. Big c bought carrefour. Big c was founded by central and merged with casino group.

I see there was a June 12 article in the other newspaper saying CP's shareholders had voted to approve the acquisition... 189 BILLION baht!

Based on value, apparently the largest corporate acquisition in Thai business history.

Hope it doesn't mean Makro's going to raise their pork prices...