Jasmine wants to take over Maxnet brand

21 Sep 2009

Debt-ridden fixed line operator TT&T’s largest shareholder, Jasmine International, has claimed in a letter to the telco that it is entitled to take full management responsibility for high speed internet provider Triple T Broadband, which is 91% owned by Jasmine with a 9% stake held by TT&T. In the letter it also ‘ordered’ TT&T Subscriber Services, a wholly owned subsidiary of TT&T, to cease selling broadband services under the Maxnet brand which is currently shared with Triple T Broadband. The Bangkok Post writes that the letter followed the Central Bankruptcy Court approving the preparation of a debt rehabilitation plan for TT&T, whilst a TT&T executive shareholder was quoted as saying that TT&T had threatened to cancel broadband bill payment services at its nationwide customer service centres for Triple T if Jasmine took over the business. In addition, TT&T threatened to sue Jasmine if the latter cuts off its copper cable or optical-fibre network without permission. Jasmine claimed that the usage of the Maxnet brand by TT&T alongside Triple T was causing confusion among customers, adding that it wants TT&T to stop broadband management operations and revenue collection, and transfer ADSL customers from its network to Triple T, in order to concentrate on a plan to restructure its THB21 billion (USD630 million) debts. Jasmine also asserted that TT&T could not ban customers from paying bills at its facilities because ‘Triple T was allowed to legally use the centres for bill services.’ In May 2009 Jasmine said that as a result of TT&T’s debt rehabilitation and corporate restructuring programme, its stake in the telco would increase from 30% to 40%.

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