Jasmine reduces TT&T stake further; posts 15% revenue increase

13 May 2011

Thai telecoms group Jasmine International, the parent of high speed internet service provider Triple T Broadband, has announced that it sold off most of its remaining minority investment in provincial fixed line operator TT&T on the Thai stock exchange in the first quarter of this year. Jasmine said it now holds 1.69 million shares in TT&T, although a proportion of overall shareholding was not provided; the group booked a THB92.5 million (USD3.1 million) loss on investment in its quarterly results. Jasmine also posted a 15% year-on-year increase in 1Q11 revenues to THB2.33 billion, as well as a net profit of THB215 million, up 31% y-o-y.

Thailand, Triple T Broadband (3BB)