Tesco sells it's Thailand stores

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Zidane
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Tesco sells it's Thailand stores

Post by Zidane » March 9, 2020, 8:34 pm

Tesco has agreed to sell all its stores in Thailand and Malaysia to the Thai conglomerate CP group for 8 billion GBP.
Tesco's currently has 2,000 stores in the two countries and employs 60,000 people.
CP also owns the 24 hour convenience stores 7/11. (BBC News)


Just when I thought our chance had passed,you go and save the best for last.

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karonsteve
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Re: Tesco sells it's Thailand stores

Post by karonsteve » March 10, 2020, 2:10 am

They own Big C as well.

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deankham
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Re: Tesco sells it's Thailand stores

Post by deankham » March 10, 2020, 2:16 am

^ Are you sure CP own Big C? I always thought TCC owned Big C after they bought it from Carrefour.

Sateeb
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Re: Tesco sells it's Thailand stores

Post by Sateeb » March 10, 2020, 2:24 am

True I think TCC own Big C but keep it on the QT OK? :-$

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Khun Paul
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Re: Tesco sells it's Thailand stores

Post by Khun Paul » March 10, 2020, 7:21 am

Think the takeover is referred to the Thai Monopoly commission for ratification , not a done deal yet

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tamada
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Re: Tesco sells it's Thailand stores

Post by tamada » March 10, 2020, 11:12 am

^ Thai Monopolies Commission... same same the Election Commission with different epaulets on their dress uniforms so as not to be confused with teachers (same parachutes though). The same guys that gave the nod for CP All to acquire their current 38% shareholding in Siam Makro plc.

Large brown envelopes being passed around.

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karonsteve
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Re: Tesco sells it's Thailand stores

Post by karonsteve » March 10, 2020, 3:47 pm

My apologies I thought that Charoen Sirivadhanabhakdi owned both companies.

anefarious1
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Re: Tesco sells it's Thailand stores

Post by anefarious1 » March 10, 2020, 9:07 pm

This doesn't bode well for fair pricing at the convenience stores all across the country. Now they own all of Thailand's 7-11s and all the mini Tescos, everywhere? Won't be good for regular folk.

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Re: Tesco sells it's Thailand stores

Post by glalt » March 10, 2020, 9:25 pm

I look forward to better management. The many 7-11's seem to run efficiently. There is a Tesco Mini or Tesco Express, whatever, convenient to my Jomtien condo. I quit using it because they appeared to have no inventory control. Absolutely terrible management. After the dust settles, I'll try it again.

ADDED - there was another small Tesco near our home upcountry. It too was badly managed and is now closed. Both stores had no inventory control. I didn't expect those stores to have a huge variety of products, but I did expect them to have the basics.

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