ADVANC reiterates its progress with its TTTBB-JASIF stock acquisition plan, expecting to complete all steps in Q2/23 : InfoQuest

Advanced Info Service Public Company Limited (ADVANC) would like to inform that progress The company continues to acquire shares in Triple T Broadcast Broadband Public Company Limited (TTTBB) and Jasmine Broadband Internet Infrastructure Fund (JASIF). television business and the National Telecommunications Commission (NBTC) as set out in the NBTC Notice on Measures Regulating Business Combinations in Telecommunications Business. The company expects that the stock purchase and investment unit purchase transactions will be completed within the second quarter of 2023.

In addition, as in the last week, Jasmine International Public Company Limited (JAS) and the JASIF Infrastructure Fund explained the news that appeared in the media regarding the incomplete and / or delayed payment of the lease to the Fund. The Company would like to inform that the Company has anticipated the intense competition in the broadband Internet market which has had a continuous negative impact on the service providers. And this is the main reason why the company proposed to restructure the rent to the JASIF Fund at the end of the year 22.

The Company has a policy to develop IITBB to be able to run its own business without relying on cash flow from the Company. After this acquisition transaction is approved by the NBTC, the Company will consider various options. in the work of restructuring TTTBB’s business, in terms of financial and debt restructuring. Including a proposal to restructure the rental payment agreement to JASIF to be appropriate so that TTTBB can continue to compete in the home internet business on its own in the long term. The Company does not have a policy to inject liquidity or increase capital in TTTBB.

However, the Company still believes that the acquisition of TTTBB is appropriate according to the strategy to expand the growth of the Company’s home internet business Create the maximum possible benefits for the Company’s shareholders in the long term.

By InfoQuest News Agency (29 Mar. ’23)

Tags: ADVANC , TTTBB , Triple T Broadband , Advanced Information Service


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