Academics and netizens have expressed their frustration after the Office of Trade Competition Commission (OTCC) approved conglomerate Charoen Pokphand's acquisition of retail giant Tesco Lotus.

The commission voted 4:3 in favour of the US$10-billion takeover deal.The OTCC on Friday gave the green light to CP Group’s deal to buy Tesco Stores (Thailand).

“The decision fails to build trust among consumers and other parties, as it can potentially damage trade competition,” Nipon Poapongsakorn, distinguished fellow at the Thailand Development Research Institute, told the Nation on Sunday.

“It is not in line with the spirit of the competition law, which aims to prevent companies having market dominance to unfairly enjoy an advantage over other competitors,” said Nipon, a former member of the competition committee when it was under the supervision of the Commerce Ministry.

MORE Public outrage over approval for CP Group's acquisition of Tesco Lotus