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Bangkok Post

Business

Advanced Info Service to buy Triple T Broadband

Advanced Info Service Plc (AIS), Thailand’s biggest mobile phone operator, plans to expand its network by acquiring Triple T Broadband Plc and an infrastructure fund for a total of 32.4 billion baht.

The company will buy internet provider Triple T from Jasmine International Plc for 19.5 billion baht, Chief Financial Officer Tee Seeumpornroj said in an exchange filing. It will also acquire 1.52 billion units, or a 19% stake, in Jasmine Broadband Internet Infrastructure Fund for 12.9 billion baht. At 8.50 baht a unit, that is a 10.5% discount to the fund’s closing price Friday.

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