PTT won't bid for Tesco Lotus

PTT won't bid for Tesco Lotus

PTT president and chief executive Chansin Treenuchagron
PTT president and chief executive Chansin Treenuchagron

PTT president and chief executive Chansin Treenuchagron has denied reports that the PTT Group plans to acquire Tesco Lotus's Asian business.

He was responding to reports on Wednesday that PTT Oil and Retail Business Plc (PTTOR) would vie for the business, valued around US$9 billion.

"It was fake news... It is neither our business nor our strategy," media quoted Mr Chansin as saying on Thursday.

PTTOR is the retail unit of PTT, Thailand's biggest energy company.


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