Thailand: Issued ruling in Trade Competition Commission investigation into an out-of-home advertising media company regarding its subscription of another company in the advertising sector

On 2 May 2019, the Trade Competition Commission (TCC) issued its decision regarding an investigation into an out-of-home advertising media company regarding its subscription to another company in the advertising sector. The case arose from a complaint filed online on 27 March 2019, alleging that the respondent, a public company engaged in various advertising media businesses, had subscribed to shares of another listed company (Company XX), thus potentially reducing competition in the market. In particular, the investigation revealed that the respondent had acquired 18.60% of Company XX's shares, thereby expanding its influence in the advertising market. However, the TCC determined that this acquisition did not meet the threshold for a merger that would significantly reduce competition or create a dominant market position, as defined under Section 51 of the Trade Competition Act B.E. 2560 (2017). The TCC concluded that the respondent’s actions did not violate the Trade Competition Act or the related guidelines on asset and stock acquisition. Therefore, the case was dismissed, and the complainant was informed of this resolution.