Spanish telecom infrastructure company Cellnex has agreed to sell its Austrian business for €803 million ($877m).

The company will sell 100 percent of its Austrian unit to a consortium comprised of Vauban Infrastructure Partners, EDF Invest, and MEAG.

Cellnex only entered the market in 2021, when it snapped up CK Hutchison's sites in the country.

That particular deal also included assets in five other European countries, including Denmark, Ireland, Italy, Sweden, and the UK.

Cellnex operates around 4,600 tower sites in Austria.

"The sale of our business in Austria is one further step within the company’s ‘Next Chapter,’ in line with our strategy, to achieve the goal of consolidating, simplifying our corporate structure, and focusing our efforts in the existing growth opportunities in the main markets in which we operate," said Marco Patuano, CEO of Cellnex.

“It will also allow us to move forward on two other strategic objectives such as the focus on the balance sheet and shareholder remuneration, thus fulfilling our commitments to the market."

The deal is subject to regulatory approval, with Cellnex not providing a timeline for when it expects the sale to close.

Cellnex has sold a number of assets in the last 12 months. In March, it agreed to sell its Irish unit to Phoenix Tower International (PTI) for €971m ($1.06bn). That deal is currently being probed by Irish regulators.

The company was also linked with a sale of its Polish business operations earlier this year, in a deal valuing the assets at €3 billion ($3.28bn) excluding debt.

Last year, Cellnex agreed to sell a 49 percent stake in its Sweden and Denmark subsidiaries to Stonepeak for €730 million ($797m).

Cellnex currently manages a portfolio of over 138,000 sites – including planned roll-outs up to 2030 – in 12 European countries.