Thailand-based AIS signed agreements to take a stake in two broadband companies owned by Jasmine International, positioning it to expand coverage in non-urban areas and better compete against a planned merger of True Corp and dtac.

AIS’ subsidiary Advanced Wireless Network announced it will acquire a 99.87 per cent interest in Triple T Broadband for THB19.5 billion ($546.9 million). It also agreed to take a 19 per cent stake in Jasmine Broadband Internet Infrastructure for THB12.9 billion.

In a statement, AIS explained the acquisitions are part of its aim to “grow the broadband business and develop the nation’s fibre infrastructure”.

Both deals are subject to regulatory approvals, will be funded by debt and are expected to close in the first quarter of 2023.

AIS currently has 1.9 million broadband subscribers: the acquisition of Triple T Broadband will give it a combined user base 4.3 million, making it the second-largest broadband provider in the country, Bangkok Post reported.