ASEAN KEY DESTINATIONS
PTT drops bid for Carrefour
A PTT study found that overseas oil business operators were diversifying into retail sales instead of selling only fuel. They had built retail outlets inside petrol station areas. This development trend overseas had prompted PTT to expand its retail business at its gasoline stations, he added.
Due to the limited number of PTT gasoline stations in Bangkok and its vicinity, PTT decided to purchase the 43-store network in the capital and provinces of the French retailer, through a bid by its affiliate retail arm.
Thai Energy Minister Wannarat Channukul said his ministry had not ordered PTT to scrap its Carrefour bid, and there had been no political interference in the business expansion plans of the country's largest oil conglomerate, as speculated.
"As a national energy firm, its main task is to ensure energy security. The plan to expand its retail business could have been seen as inappropriate as it is not the core business of PTT," Mr. Wannarat said.
Asked about a report that PTT decided to withdraw because it was lobbied by a business group, Mr. Wannarat said he had no knowledge about it.
PTT president Prasert Bunsumpun confirmed that the decision to drop the bid was made by the company and there was no pressure from the government.
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