Arqiva is looking to sell off its broadcasting and smart meter operations in a move that could raise £2.5 billion.
The transmission company runs around 1,150 television transmissions sites that provide the Freeview digital terrestrial service, as well as commercial radio, and smart meters for Thames Water and Anglian Water.
In February, Arqiva officially pulled out of the marketing organisation behind Freeview, and in 2019 sold its telecom masts to Cellnex Telecom SA for another £2 billion.
Arqiva is owned by investors including Macquarie Group Ltd., IFM Investors Pty and a number of Australian funds.
Macquarie acquired the then NTL Broadcast in 2005, combining with National Grid Wireless (Crown Castle) two years later.
Arqiva has declined to comment.