Tower firm Cellnex has kicked off plans to sell a majority stake in its Swiss unit this week.

Bloomberg reported earlier this week that Cellnex is working on a sale with JPMorgan Chase & Co. and Societe Generale SA in a move that could net as much as €2 billion ($2.2bn).

Cellnex owns 72 percent of its stake in the Swiss unit, while the remainder is owned by Swiss Life Asset Managers.

The company manages around 6,000 radio sites, including towers across rural and urban areas.

The latest reports come a couple of months after Spanish newspaper Expansión reported Cellnex was looking to sell its Swiss business unit.

DigitalBridge Group and Phoenix Tower International (PTI) have shown a preliminary interest, reported Bloomberg, while EQT Infrastructure, SBA Communications Corp, and Stonepeak have also been invited.

First round bids for the asset are expected by early next month.

Cellnex entered the Swiss market back in 2017, when it acquired Sunrise subsidiary, Swiss Towers, for €430 million ($473m). It acquired the tower company as part of a consortium with Deutsche Telekom Capital Partners (DTCP) and Swiss Life Asset Managers.

Cellnex has sold or agreed to exit a number of markets in the past year, including its private networks business to Boldyn Networks.

In February, Cellnex completed the sale of its Irish business to Phoenix Tower International (PTI) for €971 million ($1 billion).

In December, the company sold its Austrian tower unit to a consortium comprised of Vauban Infrastructure Partners, EDF Invest, and MEAG for €803 million ($884m).

Last year, Cellnex agreed to sell a 49 percent stake in its Sweden and Denmark subsidiaries to Stonepeak for €730 million ($746m).

Cellnex currently manages a portfolio of around 130,000 sites – including planned roll-outs up to 2030 – in 12 European countries.