Thaicom has sold its 42.07% stake in Thai broadband provider CS Loxinfo (CSL) – held via subsidiary DTV Service Company – to Advanced Wireless Network (AWN), itself part of mobile telecoms giant Advanced Info Service Public Company (AIS). Thaicom is itself part of AIS’ parent group InTouch Holdings (formerly Shin Corp). AIS paid THB7.8 (USD0.23) per share for the unit, with the total value of the transaction reaching THB1.95 billion.
The takeover is expected to bolster AIS’ position within the fixed internet segment. CSL, formerly known as CS Communications Company Limited, was established in July 1994 as a joint venture company of CAT Telecom and Thaicom. The telco provides fibre-optic broadband connectivity to condominiums situated near the Skytrain and Subway lines in the Sukhumvit, Ratchadaphisek, Lat Phrao and Phahon Yothin areas of Bangkok.