TPG Telecom (ASX:TPG) has finalized the sale of its fiber network infrastructure and enterprise, government, and wholesale fixed business to Vocus Group for AU$5.25 billion, securing around AU$4.7 billion in net cash proceeds, according to a Thursday filing with the Australian bourse.

The net proceeds account for deductions including a AU$250 million contingent payment, AU$100 million toward Vocus' costs, and the company's transaction expenses, the filing said.