The amalgamation will remove Intouch as the intermediary company and simplify Singtel’s stake in AIS, its Thai associate. It will also see Intouch and Gulf be dissolved and form a new legal entity to be listed on the Stock Exchange of Thailand (SET)
The amalgamation of Advanced Info Service Public Company Limited (AIS) and Gulf is scheduled to be completed on April 1, says Singapore Telecommunications (SGX:Z74
) (Singtel) in a Feb 28 statement.
The telco previously expressed its support for the amalgamation in July 2024. Singtel’s group chief financial officer (CFO), Arthur Lang, had said that the move was “in the best interests of stakeholders to simplify AIS’ shareholding structure” and that the telco is “supportive of this move”.
