Thailand’s leading internet service provider “AIS” announces its 32.4 billion baht acquisition of télécom company “3BB, the board of directors of AIS approved the acquisition by its branch “Advance Wireless Network Company Limited (AWN)” of all shares of Triple T Broadband Public Company Limited (TTTBB).
AWN will request authorization to proceed with the purchase transaction from the Broadcasting Committee and the National Telecommunications Commission before signing the share purchase and unit trust agreements, which are expected to be completed in the first quarter of 2023. This approval will be required before the company can move forward.
The AIS telecom company is therefore buying shares in Triple T Broadband Company or 3BB and making investments in the JASIF infrastructure fund in order to expand the internet network with fiber optic technology, which will help reduce the amount of old and unnecessarily overlapping copper telecom cables, a strategy that is in phase with the government’s policy to remove these unattractive accumulations.
AWN therefore signed a memorandum of understanding with ACU and JAS on July 3, 2022 for the purchase and sale of TTTBB shares and JASIF investment units. AWN will also submit a transaction clearance application to the Broadcasting Commission Television Business and the National Telecommunications Commission (NBTC) for the purchase of shares and investment units which is expected to be completed in the first quarter of 2023 if approved by the NBTC.
Somchai Lertsuthiwong, Chief Executive Officer of AIS, said the investment in 3BB is a critical step in pursuing the company’s strategic goals of growing the home Internet business and will help expand the company’s digital offerings, giving it the ability to provide broadband Internet service via fiber optics that will cover a wider range of customers. The company also hopes to expand the investment to new areas so that all people in Thailand can benefit from high-speed Internet service, especially in provincial areas and city suburbs. This will also help customers to experience good network quality and contribute to the improvement of Thailand’s overall fiber optic network, which itself drives digital economic activity. It will also eliminate unnecessary redundancy of obsolete copper cabling and reduce environmental impact.
Overall, these investments will drive value creation for the company and long-term returns for shareholders. The company has a strong financial profile and has become a major contributor and tenant of infrastructure funds, this will encourage share holders to receive more stable returns and the conditions will be adjusted for long term sustainability of the company’s telecom assets.
