Jasmine infrastructure fund plan hits regulatory obstacle over network leasing

24 Mar 2014

The telecom committee of Thailand’s National Broadcasting and Telecommunications Commission (NBTC) has stated that Jasmine International’s planned telecom infrastructure fund, to be managed by BBL Asset Management, must be open to all operators to lease the network, under the NBTC’s policy on infrastructure sharing. BBL Asset Management had asked the watchdog to consider the proposal that the network capacity of Jasmine’s main broadband network operating subsidiary Triple T Broadband in the fund should be leased only to its retail ISP Triple T Internet and associate TT&T Subscriber Services, and not to any other parties.

According to BBL Asset Management, the listed fund’s assets will be in two phases. The first comprises the current assets of Triple T Broadband: 670,000 core kilometres of fibre-optic cable; 18,000 ADSL service nodes; and 1.6 million ADSL ports for residential users. For the second phase over the next three years, assets will comprise a further 147,000 core kilometres of fibre-optic cable, another 10,200 access nodes, and an additional 650,000 ADSL ports. Jasmine previously informed the Stock Exchange of Thailand that its board had approved the infrastructure fund based on assets worth THB50 billion-THB70 billion (USD1.541 billion-USD2.157 billion).

Thailand’s first telecom infrastructure fund, True Corp’s True Telecommunication Growth Infrastructure Fund (TRUEGIF), listed last December, raising THB58 billion.

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