Zayo Group and TPG are reportedly competing with each other to acquire Crown Castle's fiber and wireless assets, in a deal which could make as much $10 billion.

As reported by Reuters last week, fiber network owner Zayo and buyout firm TPG are the front runners for the assets, which also includes Crown Castle's small cell business.

Crown Castle has been seeking to shift the assets for some time, revealing in April that it had held talks with multiple parties over a sale.

The company's co-founder Ted Miller, who pushed to be appointed to the company's board earlier this year, has previously said the assets could fetch as much as $15bn.

Citing sources familiar with the matter, Reuters has reported that both units are worth less than $5bn each, stating that it's possible Crown Castle could choose to sell only one of the assets.

The publication added that a deal is not expected to be imminent.

The company has a market value of around $52bn, which it has grown through its fiber expansion since 2015.

However, the cost of building fiber infrastructure has seen the company look to shift the assets to instead focus on its core tower business.

Crown Castle, which owns and operates more than 40,000 telecom towers across the US, wants to sell the assets to expand its tower footprint.

In September, the company even suggested that it may look to enter international markets again.

Owned by DigitalBridge, Colorado-based Zayo operates a 145,000-mile fiber network across the US and Canada that connects carriers, cloud service providers, and data centers.

Asset manager TPG last week acquired AT&T's remaining 70 percent stake in DirecTV for $7.6bn.

Separately last week, the company filed to remove data center company Quantum Loophole from its role as manager of a $5bn campus planned near Frederick, Maryland.