AIS earmarks THB32bn for Triple T Broadband takeover, stake in fund
Thailand’s top mobile service provider, Advanced Info Service (AIS), has announced that it is expanding its network by purchasing Triple T Broadband Plc and a stake in an infrastructure fund for 32.42 billion baht.
AIS informed the Stock Exchange of Thailand on Monday that it will purchase 7.52 billion shares in Triple T from Jasmine International (JAS) for 19.50 billion baht.
This acquisition will also give it control over Triple T Internet, Incloud and 3BB.
AIS will also purchase a 19 per cent stake in the Jasmine Broadband Internet Infrastructure Fund for 12.92 billion baht at 8.50 baht per unit.
“This investment will help boost the business value of AIS as well as provide long-term benefits to consumers, society and shareholders,” AIS said.
The company expects the transactions to be completed within the first quarter of 2023 after it has gained permission from the National Broadcasting and Telecommunications Commission.
AIS said this acquisition is in line with its strategy to expand growth in the internet business and boost the efficiency of the fibre-optic cable network in Thailand. The company added that it will continue paying dividends of at least 70 per cent of its net profits to shareholders.
Observers believe AIS, whose major shareholders include Temasek Holdings, is making this move over fears of being toppled over once the True-Dtac merger goes through.