AIS Inter Venture Company, a subsidiary of Advanced Info Service (SET:ADVANC), has agreed to acquire a 49% stake in Singapore-based Shenington Investments for $43.4 million, according to a Wednesday filing to the Thai stock exchange.
Under the deal, AIS will acquire 7,182,420 ordinary shares of Shenington Investments from Asia Mobile Holdings.
The transaction is expected to be completed by Dec. 31.
SHEN holds a 49% stake in Lao Telecommunication, which operates a telecommunications business and provides internet services in Laos.
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