January 9, 2020 / 4:17 AM / 17 days ago

Thailand's PTT says its retail unit not interested in bidding for Tesco's Asian business

FILE PHOTO: A worker pushes trolleys at a Tesco Lotus supermarket in Bangkok January 12, 2012. REUTERS/Sukree Sukplang/File Photo

BANGKOK (Reuters) - Thailand’s state-owned energy firm PTT Pcl (PTT.BK) said on Thursday that neither it, nor its retail unit were interested in bidding for Tesco Plc’s (TSCO.L) 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.

Reporting by Chayut Setboonsarng; Editing by Edwina Gibbs

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