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Singapore Telecommunications Limited (ASX:SGT) Australian arm Optus has struck a deal with NBN Co and entered a partnership for financial sector compliance.

Optus says it will progressively transfer ownership of its coaxial cable and ancillary assets to NBN Co while retaining ownership of strategic aerial fibre assets. 

The revised deal is conditional on regulatory approvals and comes in the same week Telstra Corporation Limited (ASX:TLS) inked a revised $11 billion deal with NBN Co and the Federal Government. 

Optus has also entered into an exclusive partnership with Citycom Solutions to deliver the Citycom ‘Assure’ platform. 

The platform provides financial organisations the tools to comply with financial regulations relating to the monitoring and capturing of market communications.

Singapore Telecommunications reported a net profit of $1.68 billion in the 2014 financial year.