Spanish telco Cellnex has reportedly hired JPMorgan as an advisor ahead of a potential sale of its Swiss tower subsidiary.

As reported by Spanish newspaper Expansión, Cellnex is keen to explore a full sale of its Swiss unit, which could bring in as much as €1.5 billion ($1.53bn).

Reports of a sale follow a number of high-profile deals made by Cellnex in the last year.

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.

Cellnex entered the Swiss market back in 2017, when it acquired Sunrise subsidiary, Swiss Towers, for €430 million ($440m). It acquired the tower company as part of a consortium with Deutsche Telekom Capital Partners (DTCP) and Swiss Life Asset Managers.

Just last month, the company sold its Austrian tower unit to a consortium comprised of Vauban Infrastructure Partners, EDF Invest, and MEAG for €803 million ($821m).

In March, it agreed to sell its Irish unit to Phoenix Tower International (PTI) for €971m ($993m). 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 ($3.07bn) excluding debt. Cellnex was also reported to be interested in a sale of its French data center unit in September.

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.