It is two years since the company pulled a £1.5 billion float.
One possibility is that Arqiva’s television and radio infrastructure might be separated from its mobile phone masts business.
Spanish infrastructure company Cellnex, already one of Europe’s largest mast operators, is one of those in the frame for a possible purchase of the tower business.
Arqiva is the sole provider of transmission facilities for DTT platform Freeview. It also runs its own terrestrial multiplexes.
Arqiva’s largest shareholder is the Canada Pension Plan Investment Board, which holds 48% of the shares. The Australian bank Macquarie owns a further 25%.