United Group has maintained that its Croatian operator Telemach is not for sale.

However, the company has confirmed it might spin off some of its base stations and towers assets.

The company is reportedly keen to raise funds to pay off debts, as reported by publication N1.

“In line with the current market practice, we are planning to monetize our mobile base station infrastructure in some of the countries where United Group is present in the market, including Croatia,” United Group said.

United Group holds almost 100 percent ownership of its tower assets but began the process of splitting its infrastructure assets into a separate unit, United Towers, in 2021.

BC Partners is the parent company of United Group after acquiring the company back in 2019 from KKR.

Last year it was reported that the company was preparing a sale of United Towers’ assets in Bulgaria, Croatia, and Slovenia.

Telemach is Croatia's third-biggest mobile operator, behind Hrvatski Telekom (HT) and A1 Croatia.

The plans to sell off tower assets follow a familiar theme within the telecoms industry, with Deutsche Telekom, Vodafone, and CK Hutchison all doing so in recent times.

This week, Austrian telco A1 Telkom revealed it's in talks with América Móvil and state-owned Austria investment fund ÖBAG to also spin off its towers assets.