Thailand’s leading phone network provider “Advanced Info Service (AIS)” today, July 4th, has announced its takeover of the internet company “Triple T Broadband Public Company Limited”, better known as “3 Broadband or 3BB”, and other subsidiaries of the Jasmine telecommunication technology company, worth about 32.4 billion baht.
On Sunday, the AIS Board of Directors approved its affiliate “Advance Wireless Network Company Limited (AWN)” to purchase all of the 7,529,242,385 shares in the Triple T Broadband Public Company Limited (TTTBB).
TTTBB’s two subsidiaries will also be included in the purchase, according to the announcement.
Moreover, AWN announced the purchase of investment units in the Jasmine Broadband Internet Infrastructure Fund (“JASIF”) in the amount of 1,520,000,000 units, equivalent to 19.00% of the total investment, which is worth about 32.420 billion baht.
The AWN will request permission to conduct the purchase transaction from the Broadcasting Committee and the National Telecommunications Commission (NBTC) before signing the share purchase and unit trust agreements, expected to be completed in the first quarter of 2023. This permission will be needed before truly moving forward.