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TPG Telecom Sells Mobile Towers to Omers for A$950 Million

Australian phone company TPG Telecom Ltd. agreed to sell mobile-phone towers and rooftop infrastructure to Omers Infrastructure Management Inc. in a deal valued at A$950 million ($670 million) including debt.

The sale will generate net cash proceeds of about A$890 million, which will be used to repay debt, TPG said Monday.