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Thailand's Big C submits intent to bid for Tesco's Asian businesses

Thai grocer Big C Supercenter PCL has submitted its intent to bid for Tesco PLC's operations in Asia, Bangkok Post reported Jan. 17, citing a statement from CEO Aswin Techajareonvikul.

"We operate stores in about 60 provinces, while Tesco has stores in some provinces we don't," the executive reportedly said. "We believe that if we add Tesco to our portfolio, it will help extend our retail business."

Techajareonvikul reportedly said the supermarket operator will look into the pricing of the deal, possible legal issues and its impact on shareholders.

Big C Supercenter's chief commercial officer, Pattaphong Iamsuro, reportedly added that Big C does not plan on opening any big new locations in the first half of 2020 as it waits for the results of the bid.

The development comes after reports that Bangkok-based conglomerates Charoen Pokphand Group and Central Group are considering a bid for Tesco's businesses in Thailand and Malaysia.

Tesco has 2,038 stores and employs about 60,000 workers in the two Southeast Asian countries, according to the British grocer's 2019 annual report.