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THAILAND: Military Warns Tesco Over Expansion

Thailand's ruling military council has warned Tesco and other major retailers that it intends restrict their expansion plans. Thai and foreign retailers met the military council yesterday to discuss a "voluntary" agreement to suspend expansion plans, which were drawn up by Thailand's commerce ministry before this month's coup. The meeting is understood to have ended without agreement.

Lt-Gen Palangkura Klaharn, spokesman for the Council for Democratic Reform Under Constitutional Monarchy, said the council was considering drafting a law to regulate the retail sector. Thailand is Tesco's third largest market in the world with the 200-strong chain generating almost £1bn of sales a year. The retailer had planned to almost double in size this year opening 170 new stores.

NamNews - Wednesday 27th September 2006

 

THAILAND: Military Warns Tesco Over Expansion


 

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