Thailand-based operator Advanced Info Services (AIS) struck an agreement to buy shares in firms owned by Jasmine International, a move to enhance consumer access to broadband from rural locations and remain competitive in the face of merging rivals.
In a statement, AIS chief financial officer Tee Seeumpornroj detailed the group will make the acquisitions through subsidiary company Advanced Wireless Network. The company will buy 99.87% of shares in Triple T Broadband for THB19.5 billion (US$546.9 million), and also a 19% stake in Jasmine Broadband Internet Infrastructure for THB12.9 billion.
The two acquisitions will be funded by debt and are expected to be finalised around Q1 2023. The Bangkok Post reported AIS will become the second-largest ISP in Thailand with a base of 4.3 million subscribers once the deal is completed.
Seeumpornroj said in the statement: “This acquisition will enhance consumer access to broader and better quality of service by improving broadband inclusion in new areas targeting the upcountry and non-city areas. This aligns with our business direction to grow the broadband business and effectively develop the nation’s fibre infrastructure.”
