Thai regulator blocks PTT’s bid to buy Engie’s stake in Glow Energy

Thailand’s energy regulator has blocked PTT’s $4 billion bid to acquire power firm Glow Energy from France’s Engie because it would give the company a monopoly on power supply in some areas and reduce competition, according to Reuters.

PTT had agreed to buy a 69% stake via its power unit Global Power Synergy Co. PTT’s chief executive, Chansin Treenuchagron, has said that he will respect the decision.

Engie is pursuing other options to sell its stake. The sale of Glow is part of Engie’s campaign...