Not only retailers but also suppliers and convenience store giants lie Big C Supercentre, Tesco, Berli Jucker, Saha Group and CP All are racing to bid for France-based Carrefour's hypermarket operation in Thailand.
Piyawat Titasattavorakul, managing director of CP All, which runs the largest convenience store chain, 7-Eleven, said yesterday the company believes that Carrefour's decision to exit Thailand's retail business reflected its corporate policy, not the political unrest here.
Carrefour's strategy is to focus on large countries with growth potential such as China, India and Indonesia, and neglect the smaller ones with low sales and fierce competition.
Carrefour's decision would neither help nor hurt 7-Eleven's business, as it is in a different retail segment, he said.
Whether his company had any interest in acquiring Carrefour's operations in Thailand, he could not say, as the management team has just heard the news and may discuss this matter internally.
CP All was waiting for the decision from 7-Eleven in the US as to who would win licences for 7-Eleven in China and Vietnam, he said. Many 7-Eleven licensees in other countries, including CP All, submitted a proposal to develop the convenience store chain in China.
He declined to talk about the capital expenditure budget for China if CP All is granted a licence, saying it was ready to invest in the country swiftly.
Tesco, Big C Supercentre and Berli Jucker may be among companies eyeing Carrefour SA's stores in Thailand, Finansia Syrus Securities said.
Big C probably has an advantage over Berli Jucker with its strong cashflow, the Thai brokerage wrote in a note to clients.
Big C, the second-biggest hypermarket operator here, gained 3.6 per cent to Bt57 as of the 12:30pm lunch break in Bangkok. Berli Jucker, a trading company, jumped 15 per cent to Bt15.5, set for its highest close since February 1994.
Saha Pathanapibul, a local distributor of consumer products, is interested in bidding for Carrefour's stores in Thailand, chairman Boonchai Chokwatana said.
The company was contacted by Carrefour, and is studying details of the French company's plan to sell its stores in the Southeast Asian nation, he said.