Transfer of Optus assets to Australia's NBN likely

Singapore Telecommunications Ltd. has yet to proceed with a partial float as it awaits what's in store for its Optus unit.

According to Australian Financial Review in a report by Bloomberg, the float depends on what role the unit will take in Australia's NBN Co. Transfer of some assets to the national broadband network is also being looked at, in exchange for equity.

The report added Optus is planning to sell its hybrid coaxial fibre network to NBN. SingTel Optus Pty Limited, a wholly owned subsidiary of Singapore Telecommunications, is the second largest telecommunications company in Australia with approximately 1.3 million household connections within its hybrid coaxial fibre network.