THAILAND Law and Practice Contributed by: Pranat Laohapairoj and Supakan Nimmanterdwong, Chandler Mori Hamada Limited
authority will then have in total 90 days to review and provide an answer (a 15-day extension may be granted if necessary), which can be uncondi - tional approval, conditional approval or rejection. 3.9 Pre-Notification Discussions With Authorities Parties can engage in pre-notification discus - sions with the authorities and this is highly encouraged. The process will be treated con - fidentially. 3.10 Requests for Information During the Review Process During the review process, it is common for the authority to issue requests for additional infor- mation to clarify certain aspects of the trans - action. These inquiries do not pause or sus - pend the review timeline – the clock continues to run while the parties respond. Accordingly, it is imperative for operators to diligently and promptly provide the requested information in a timely and comprehensive manner. Failure to do so may adversely affect the outcome, potentially leading to a negative determination. Therefore, parties should proactively prepare for potential follow-up questions to ensure a thorough and favourable review. 3.11 Accelerated Procedure There is no short-form or fast-track procedure for review.
including those of competitors, suppliers, ven - dors, service providers, customers and the gen - eral public, while assessing the potential impact on each group of stakeholders. The review process delves into both supply- side and demand-side dynamics, scrutinising vertical and horizontal relationships, as well as co-ordination and non-coordination aspects. The authority meticulously examines the market structure, identifying potential anti-competitive effects and any efficiencies that may arise from the transaction. Key considerations include bar - riers to entry, market share and the transaction’s potential to spur or hinder innovation. Ultimately, the overarching objective is to ensure that the transaction does not substantially lessen competition or adversely affect consumer wel - fare. Through this holistic approach, the author - ity seeks to uphold a fair and competitive market environment that fosters economic growth and consumer protection. 4.2 Markets Affected by a Transaction In assessing which markets may be impacted by a transaction, the authority primarily focuses on markets with a value exceeding the THB1 billion threshold (approximately USD31 million or EUR27 million as of 7 May 2025). However, the authority may also examine markets below this threshold if such scrutiny is deemed neces - sary. Currently, there is no established precedent for a de minimis level below which competitive concerns are considered unlikely, provided the market meets the specified threshold. This approach underscores the authority’s com - mitment to thoroughly evaluating the potential competitive impact across all relevant markets, including those of a smaller scale, to ensure the integrity of fair competition.
4. Substance of the Review 4.1 Substantive Test
In determining whether a transaction should be approved under the TCA, the authority applies a comprehensive substantive test involving a wide-ranging analysis. This includes evaluat - ing the transaction from multiple perspectives,
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