Thailand's PTT says its retail unit not interested in bidding for Tesco's Asian business
Reuters
Published Jan 09, 2020 04:18
Thailand's PTT says its retail unit not interested in bidding for Tesco's Asian business
BANGKOK (Reuters) - Thailand's state-owned energy firm PTT Pcl (BK:PTT) said on Thursday that neither it, nor its retail unit were interested in bidding for Tesco Plc's (L:TSCO) assets in Asia.
Reuters reported on Wednesday that, according to sources, PTT's retail unit was planning to participate in first-round bids due by Jan. 15 for the assets worth up to $9 billion (£6.9 billion).
Thailand's largest retailer, Central Group, and agribusiness conglomerate Charoen Pokphand (CP) Group are also set to take part, the sources said.
A spokesman for PTT declined to comment further.
Tesco, which has 1,967 stores in Thailand and 74 in Malaysia, said last month that it had begun a review of its Asian operations after receiving approaches for the businesses.
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Written By: Reuters
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