A number of companies are interested in acquiring tower firm Cellnex's Irish unit.

As reported by Reuters earlier this week, tower operator SBA Communications Corp, Phoenix Tower, and Spanish fund Asterion Industrial Partners are all in the race, according to five sources.

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The publication reports that binding offers are expected next week.

Spanish telco Cellnex operates around 2,000 cell sites in the country and is estimated to be worth close to €1 billion ($1.08bn).

Last year Cellnex agreed to sell 49 percent of its Sweden and Denmark subsidiaries to Stonepeak for €730 million ($773m).

That sale was Marco Patuano’s first major divestment since he took over the CEO role from Cellnex founder Tobias Martínez last year.

The company entered the markets after buying CK Hutchison Holdings Ltd.’s European towers in 2021.

In total, Cellnex operates around 130,000 towers across 12 European countries, including the UK, Austria, Italy, and its home market Spain.