AIS to buy controlling stake in CS Loxinfo to expand broadband coverage

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

AIS plans to acquire 42% of CS Loxinfo from DTV Service, a subsidiary of satellite operator Thaicom and 14% 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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