Singapore Telecommunication’s Thailand-based associate, Advanced Info Service, is acquiring two broadband entities for 32.42 billion baht ($1.27 billion).
First, AIS, via its 99.99% held subsidiary Advanced Wireless Network, is paying 19.5 billion baht for Triple T Broadband. The seller is Jasmine International.
Next, AIS is acquiring a 19% stake in Jasmine Broadband Internet Infrastructure Fund held by Jasmine International for 12.92 billion baht.
AIS plans to fund the acquisition with debt. Even so, it plans to maintain its current dividend policy of a payout of at least 70%. The acquisition amount of 32.43 billion baht is equivalent to 38.7% of AIS’ NTA as at March 31.
The deals, to be subjected to regulatory approvals, are expected for completion by 1Q 2023.
According to AIS, the 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.
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“This aligns with our business direction to grow the broadband business and effectively develop the nation’s fibre infrastructure,” says AIS.
