The board of AIS subsidiary Advanced Wireless Network agreed to pursue a planned acquisition of two broadband companies owned by Jasmine International despite certain conditions it sought being rejected.
In a stock market filing, AIS stated the acquisition will boost its home broadband business from 2 million customers to 4.4 million and expand its fibre reach outside of major cities.
An AIS push to waive or amend a provision related to a rental agreement was rejected: it explained this meant a renewal after the current deal ends at the beginning of 2032 would “require a material change to the existing terms and conditions to support the future competitiveness of the business”.
The operator started a review of the terms of the proposed purchase of stakes in Triple T Broadband and Jasmine Broadband Internet Infrastructure last month, after the conditions weren’t approved.
AIS stated it will seek approval from Thailand’s National Broadcasting and Telecommunications Commission before signing the share purchase agreement. It expects the acquisition to be completed in Q1 2023.