Thailand’s largest telecom announced this morning its purchase of broadband operator Triple T Broadband for THB32 billion.
In a regulatory notification to the Stock Exchange of Thailand, Advanced Info Service, or AIS, said it would acquire the company in a stock swap with its owner, Jasmine International.
The acquisition would make AIS the second largest broadband operator in the country with roughly 4.3 million subscribers by combining AIS’s nearly 2 million subscribers with Triple T’s 2.4 million.
The move would enable AIS to expand its broadband business in rural areas through the fiber optic network owned by a subsidiary of Jasmine International.
In morning trading, AIS (ADVANC) shares were up THB3.50, or 1.77%.
If approved, the deal will keep AIS ahead of rival True Corp., whose planned merger with Total Access Communication, or DTAC, would have made it the kingdom’s top telecom firm.
Advanced Wireless Network Company Limited, the operator of AIS’s licensed mobile business, will request regulatory approval from the National Broadcasting and Telecommunications Commission (NBTC) and complete the deal within the first quarter of 2023.
