New Street Research - Advanced Info Systems (AIS) AIS (Buy, TP: THB285, +28%) AIS (Buy) – Thai regulator greenlights the acquisition of 3BB by AIS

Report

New Street Research

Chris Hoare

EUR 8849.00 For Business Accounts Only

AIS (Buy, TP: THB285, +28%) AIS (Buy) – Thai regulator greenlights the acquisition of 3BB by AIS

Last Friday, the NBTC has approved the acquisition of Triple T Broadband (3BB) by AIS. This moves the Thai operator up to the top spot in the fixed broadband market with c.36% on our estimates. The remedies were fairly reasonable in our view.

13/11/2023 1 EN

Underlying

Advanced Info Systems

See profile

Provider

New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

See profile

Analysts

Chris Hoare

Other Reports on these Companies

New Street Research

Thai Telcos Q4 24 review: Fundamentals remain in-tact; auction risk an overhang

Thai operators outperformed their guidance, with 2025 guidance signalling a steady mobile growth. TRUE has most room for margin improvement, partly supported by this year’s expiry of the spectrum rental with NT.

EUR 8849.00

March 10, 2025 March 10, 2025 1 EN

New Street Research

Thai Telcos Thoughts on upcoming spectrum auction

We give our thoughts on pricing and total spend ahead of the upcoming THB 121bn (USD 3.6bn) spectrum auction in Thailand (likely in May 2025). Reserve prices seem reasonable, but the early auction of expiring 2027 spectrum means total spend this year is likely to be above our original forecasts.

EUR 8849.00

February 28, 2025 February 28, 2025 1 EN

New Street Research

Global EM Telcos & Towers Introducing the NSR Global EM Telco & Towers Compounders

In a separate note published last week we introduced the NSR GEM-Top 8. However, many of the stocks in that list are not liquid and so, given the tailwinds we now see in the Telco industry we introduce a second list – the GEM Telco & Towers Liquid Compounders; large cap, well-managed telcos in attractive markets at cheap valuations that are likely to generate market-beating returns over time. These are the best large cap investments in the Global EM Telco & Towers space we think.

EUR 8849.00

January 6, 2025 January 6, 2025 1 EN

Apple 2FQ25: minimal tariff impact, weak iPhone, Intelligence debacle. Neutral, $215 TP

Apple reported 2FQ25 last night.

19h / 26m 19h / 26m 1 EN

Blair Levin

Blair Levin

The Cost of the Deal: What Does the Skydance/Paramount Situation Tell Us About the Trump Transaction Tax?

Paramount is entering into mediation to resolve the litigation with President Trump and remove a barrier to FCC approval of the pending acquisition by Skydance. In this note we update our thoughts on what the deal’s process tells us about pending and future deals can expect from the government approval process.

EUR 8849.00

20h / 25m 20h / 25m 1 EN

Jonathan Chaplin

Jonathan Chaplin

CCI Model Update & Starting Valuation

This note covers changes to the model and establishes a starting valuation for the Company of $125 (+18%; total return of +22%). We are above the mid-point of guidance for 2025 and for AFFO post close. We expect Consensus estimates for both to increase (post close estimates should increase a lot). See our prior note on results and the rationale for our upgrade to Buy.

EUR 8849.00

20h / 29m 20h / 29m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

AIS (Buy, TP: THB285, +28%) AIS (Buy) – Thai regulator greenlights the acquisition of 3BB by AIS

Thai Telcos Q4 24 review: Fundamentals remain in-tact; auction risk an overhang

Thai Telcos Thoughts on upcoming spectrum auction

Global EM Telcos & Towers Introducing the NSR Global EM Telco & Towers Compounders

Apple 2FQ25: minimal tariff impact, weak iPhone, Intelligence debacle. Neutral, $215 TP

The Cost of the Deal: What Does the Skydance/Paramount Situation Tell Us About the Trump Transaction Tax?

CCI Model Update & Starting Valuation

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe