September 13, 2017 / 11:29 AM / in 2 months

Top Thai mobile operator to buy Internet provider

BANGKOK (Reuters) - Thailand’s largest telecommunications Advanced Info Service Pcl (AIS) plans to spend 2.6 billion baht ($78.57 million) to buy 56 percent of Internet service provider CS Loxinfo, further advancing its Internet broadband coverage.

AIS plans to acquire 42 percent of CS Loxinfo from DTV Service, a subsidiary of satellite operator Thaicom and 14 percent from Singapore’s Singtel at 7.8 baht per share pending due diligence and negotiations, the company said in a statement to the Stock Exchange of Thailand.

AIS and Thaicom are subsidiaries of InTouch Holdings. The acquisition would consolidate the group’s Internet services under AIS. It launched broadband internet services last year.

($1 = 33.0900 baht)

Reporting by Chayut Setboonsarng; editing by Jason Neely

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