Thailand’s mobile service provider Advanced Info Service (AIS) announced that it is planning to invest 32.4 billion baht to buy out Triple T Broadband and to purchase units owned by JASIF infrastructure fund.
In a stock exchange filing, AIS said that it intends to acquire Triple T Broadband for 19.5 billion baht and buy 19% of JASIF for 12.9 billion baht.
The company’s chief financial officer said in the filing, “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 fiber infrastructure. A combined fiber network will support effective sharing that reduces unnecessary fiber network duplication and its environmental impact.”
The announcement comes as competitors True Corp. and DTAC have initiated partnership and are awaiting regulatory approval.
AIS meanwhile said that the deal must still be approved by authorities and is likely to be finalized by the first quarter of 2023.