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Top Thai Mobile Operator Buys Internet Firm to Widen Network

  • Advanced Info to acquire Triple T Broadband from Jasmine
  • Plans to expand services in areas beyond the country’s cities
Updated on

Advanced Info Service Pcl, Thailand’s biggest mobile phone operator, plans to expand its network by acquiring Triple T Broadband Pcl and an infrastructure fund for a total of 32.4 billion baht ($908 million).

The Bangkok-based company will buy internet provider Triple T from Jasmine International Pcl 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 8.5 baht a unit, that is a 7.6% discount to the fund’s latest unit price of 9.2 baht.