Jasmine International Plc (JAS) has stealthily bought another 10 percent stakes in TT&T Plc through two of its subsidiary, makes it accumulatively holding up to 40 percent stake in the fixed-line and mobile operator, the Stock Exchange of Thailand (SET) disclosed.

SET said the move by Jasmine has not against the SEC’s rules as long as its ownership in the targeted company is not approaching a critical level of 50 percent of voting shares.

Jasmine International recently owns 30 percent stake in TT&T Plc.

The Stock Exchange of Thailand requires disclosed information of any deals that involved in more than 5 percent stakes of the listed companies.

A recent bid by two of Jasmine’s affiliates has raised question over a hostile takeover attempt.

TT&T remains entering a rescue plan to fend off 21 billion baht ($601) in debt.