According to Bloomberg, sources familiar with the matter revealed that tower operator SBA Communications is evaluating various options, including a potential sale, after receiving a preliminary acquisition proposal. Several major infrastructure funds have approached the company, but discussions are still at an early stage and may not result in a transaction. SBA has not yet responded to requests for comment.

Over the past year, SBA Communications' share price has fallen by 20%. On Thursday afternoon New York time, the stock rose 2.6% to $176.07, with a market capitalization of $18.7 billion and an enterprise value, including debt, of about $34 billion. Over the past 12 months, privatization and acquisitions have been frequent, but the credit market that previously supported such deals is now volatile. Founded in 1989, SBA Communications acquired its first batch of towers in 1997 and went public two years later. The company owns more than 46,000 wireless infrastructure sites, mainly operates in the US market, and its revenue primarily comes from leasing sites to wireless operators.