Swedish mobile carrier Tele2 is considering selling its telecom tower assets in the Baltics.
Bloomberg reports that the telco could make as much as €500 million ($542m) from a potential sale.
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Tele2 is reported to be working with Perella Weinberg Partners on the potential divestment of its telecom towers portfolio in Estonia, Latvia, and Lithuania.
Sources familiar with the matter told Bloomberg that a sale process has started recently, with private equity firms said to be interested.
A spokesperson for Tele2 said that the carrier is “always investigating various opportunities to strengthen the business.”
Last year, Tele2's presence in the Baltics brought in around a fourth of the carrier's total revenue.
The company's Lithuanian unit is Tele2's biggest market in the Baltics.
It's not clear exactly how many towers Tele2 owns across the region, nor were any reasons for a possible sale specified.
Several mobile carriers have spun off or sold passive telecoms infrastructure in recent years in order to service debts or raise investment for upgrading 5G network infrastructure.
In October, Tele2 announced the appointment of Jean Marc Harion as its new president and CEO. Last year, Iliad Group agreed to pay $1.26 billion for a 19.8 percent stake in Tele2.
