Thailand's King Power wins duty-free retailer auction for major airports
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BANGKOK (Reuters) - Airports of Thailand Pcl (AOT) on Wednesday approved King Power Group's $494 million (£393.3 million) bids for duty-free retailing at its major airports over rival contenders, including a group of South Korea's Lotte and Bangkok Airways Pcl.The hotly-contested auction had lured international bidders seeking to benefit from Thailand's booming duty-free industry on growing tourist numbers, and powered airport operator AOT's revenue growth. Tourist receipts account for about..