Thai mobile operator AIS backed out of a joint venture to deliver digital banking services, with partner Siam Commercial Bank (SCB) to acquire its 50 per cent stake.

In a stock market filing, AIS stated it would dispose of all investment in the AISCB venture made in October 2021, but left the door open to work with SCB in other business settings.

AIS added its business direction “continues toward the aspiration of providing digital life services”.

The operator, currently the market leader with a 45.6 million connections Q3 data from GSMA Intelligence showed, faces the threat of increased pressure from rivals True Move and dtac, which plan to merge their operations to become the dominant player with 54.6 million connections.

AIS is also working to close a deal to acquire two broadband companies owned by Jasmine International, which will more than double its home broadband business to 4.4 million customers.