Singapore Telecommunications (STEL.SI), Southeast Asia’s biggest telecom firm, said today no decision had been made on a rumoured partial float of its wholly-owned Australian subsidiary, Optus.

Media have speculated that SingTel would look to float around a quarter of its share in Optus, which could be worth up to A$4 billion ($4.9 billion), to fund expansion in other markets.

SingTel chief executive officer Chua Sock Koong told a media briefing the company would look at any deal that would be value accretive to shareholders but no decision had been made.

Earlier SingTel reported an 18 percent rise in third quarter profit, driven by strong growth in mobile subscriptions.

SingTel is currently trading at $3.01.