AIS began reconsidering the terms of a deal to acquire stakes in broadband companies owned by Jasmine International, after shareholders of one unit failed to approve conditions allowing the operator to amend fibre leasing and payment provisions.
Shareholders of Jasmine Broadband Internet Infrastructure approved the stake sales yesterday (18 October) but refused to approve conditions which would allow AIS’ subsidiary to terminate rental assurance and marketing services agreements, and increase in advance rental payment payable by Triple T Broadband to Jasmine Broadband Internet Infrastructure.
In a stock market filing, AIS argued it views the conditions as key to the competitiveness of Triple T Broadband and it will announce the next step after a review.
Leasing and payment terms are “a material issue which requires careful reconsideration”, AIS stated.
Jasmine International’s shareholders last month approved a deal for AIS to acquire 99.87 per cent of Triple T Broadband and 19 per cent of Jasmine Broadband Internet Infrastructure.