AIS to acquire Triple T Broadband (3BB) from Jasmine for $900M

[buksida]

Thailand loves its monopolies ...

Top Thai Mobile Operator Buys Internet Firm to Widen Network
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 10.5% discount to the fund’s closing price Friday.

“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,” Tee said. “This aligns with our business direction to grow the broadband business and effectively develop the nation’s fiber infrastructure.”

Shares of Advanced Info rose as much as 2.8%, the biggest gain in more than a week. Jasmine International, a technology company that is expanding into Bitcoin mining business, dropped as much as 7.2%, while Jasmine Broadband slumped as much as 7.4%.

https://www.bloomberg.com/news/articles ... #xj4y7vzkg

[PeteC]

I wish they would buy TOT as well. Put the dinosaurs out of their misery.

[handdrummer]

"Shares of Advanced Info rose as much as 2.8%, the biggest gain in more than a week. Jasmine International, a technology company that is expanding into Bitcoin mining business, dropped as much as 7.2%, while Jasmine Broadband slumped as much as 7.4%."

I've been wanting to invest in Jasmine, and for the last week every time I've tried to find someone to talk to about it I was thwarted. Sometimes the universe works in one's favor.

[buksida]

Planned takeover of 3BB by AIS still in limbo
The takeover deal of Triple T Broadband (3BB) by Advanced Info Service (AIS) is stuck in limbo as the National Broadcasting and Telecommunications Commission (NBTC) board continues to decline considering the deal on its agenda.

The deal was listed as an agenda item for the board's consideration in the past two board meetings. The 2010 NBTC law requires the board to consider a listed agenda item within 15 days after taking the agenda into consideration.

Some NBTC commissioners said they prefer to wait for an international advisor's study on the economic effects of the deal before considering the deal. This portion of the study is expected to be completed and sent to the NBTC office by mid-October.

A source on the NBTC board who requested anonymity told the Bangkok Post the delay in considering the deal at the past two meetings might not comply with practices under the 2010 NBTC law.

The board could make any formal resolution on the agenda but declined to do so. The source said the NBTC board during the past two meetings "verbally" decided to skip considering the agenda.

The NBTC board's next meeting is slated for Oct 4 when it is expected to discuss the legal aspects of the deal.



https://www.bangkokpost.com/business/ge ... l-in-limbo