Jasmine ups stake in TT&T

21 Jun 2006

Thai data services provider Jasmine International has increased its holding in local telco TT&T from 26.58% to 30% through the acquisition of 110 million common shares on the Thai stock market for THB325 million (USD8.47 million), or an average of THB2.94 per share. TT&T, the largest provincial fixed line operator in Thailand, sees Jasmine International’s move as a good sign for the future of its high speed broadband internet venture, Triple T Broadband. TT&T president Prachuab Tantinont said the shareholding increase reflected rising interest in Triple T since the National Telecommunications Commission granted it a 20-year licence. The ‘Type 3’ concession covers national fixed line telephony and internet/data services. Jasmine International operates as an ISP and data carrier and owns a satellite network via its wholly owned subsidiary Acumen.

Thailand, Jasmine International Group, Triple T Broadband (3BB)