Singapore Telecommunications is waiting to see what role its Optus unit takes in Australia’s national broadband network before proceeding with a partial float of the business, the Australian Financial Review said.

Morgan Stanley is advising SingTel and Optus on the potential float and the possible transfer of some assets to the government-owned NBN Co. in return for equity, the newspaper reported without saying where it got the information.

Optus wants to sell its hybrid coaxial fibre network, which has about 1.3 million household connections, into the NBN, the Review said.