With a $908 million acquisition, Billionaire Sarath Ratanavadi's AIS will expand its broadband network
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| Billionaire Sarath Ratanavadi's AIS will expand its broadband network |
In order to extend the reach of its network throughout Thailand, Advanced Info Service, which is backed by Gulf Energy Development, owned by billionaire Sarath Ratanavadi, and Singtel, the largest telecommunications company in Southeast Asia, is purchasing Triple T Broadband and an infrastructure fund for 32.4 billion baht ($908 million).
According to the agreement, AIS will pay Jasmine International 19.5 billion baht for internet service provider Triple T and 12.9 billion baht for a 19 percent ownership in Jasmine Broadband Internet Infrastructure Fund, according to Tee Seeumpornroj, the company's chief financial officer.
The deal will increase AIS's share of the broadband market; as of March, AIS's Advanced Wireless Network segment had 1.9 million users. Comparing that to market leader True's more than 4.6 million subscribers.
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