Cellnex, a Spanish telecommunications infrastructure company, agreed to sell its 72% stake in its Swiss unit to Manulife Investment Management for approximately €2 billion ($2.35 billion). The Swiss unit operates around 6,000 telecom sites across Switzerland, a market Cellnex entered in 2017 through the acquisition of Sunrise subsidiary Swiss Towers for €430 million ($506 million). The transaction follows Cellnex's strategic decision to exit the Swiss market, with the company valuing its stake at €2 billion. Cellnex has been divesting non-core assets globally, including the sale of its French data center business Towerlink France to Vauban Infra Fibre subsidiary IFSP6 Trinity earlier in 2026. The deal is part of Cellnex's broader portfolio optimization, which has seen the company exit markets such as Austria, Ireland, and Sweden/Denmark in recent years.