Besides Singtel, the other offerors are the Gulf Energy Development Public Company, Intouch Holdings Public Company and Sarath Ratanavadi, who controls Gulf and Intouch.
The offer by these four shareholders, announced on Dec 24, is made after Gulf and Intouch's plan to combine their shareholdings in AIS into a single entity.
Their combined stake of 40.44% has triggered a mandatory offer for all shares in AIS.
Singtel, as one of the existing major AIS shareholders, has indicated its intention to take part in the same offer given its confidence in the long-term business operation and growth potential of AIS.
See also: Singtel’s redeveloped Comcentre to be Singapore’s first AI-enabled, 5G+ connected building
AIS is part of Singtel's network of regional mobile associates. Besides Thailand, Singtel holds similar substantial stakes in various telcos of the Philippines, Indonesia, India as well as Optus, its wholly-owned unit in Australia.
Singtel shares closed at $3.10 on Dec 24, unchanged for the day and up 26.53% year to date.
AIS shares, quoted in Thailand, is up 0.35% to change hands at 285 baht, valuing the company at 814.9 billion baht.
