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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.