AIS announced its acquisitions of Jasmine International broadband units is going ahead despite certain conditions set for the buy being rejected when the deal was announced.
In a stock exchange filing, AIS detailed the acquisition will double its broadband customer base from 2 million to 4.4 million, and expand its fibre reach beyond cities. The acquisition will also bring expanded revenue and create additional value to improve long-term cash flow for the company.
The Thai operator moved to amend a provision for a rental agreement but this was rejected. AIS said it will seek “require a material change to the existing terms and conditions to support the future competitiveness of the business” when the current deal ends in early 2032.
The deal was announced last month in which the operator proposed to acquire stakes in Triple T Broadband and Jasmine Broadband Internet infrastructure. The company started a review of the acquisitions when certain conditions were not met.
AIS said it is seeking approval from regulator the National Broadcasting and Telecommunications Commission, before signing the deal, it expects the acquisition to be sealed in Q1 2023.