BT Group and Verizon Communications have agreed to combine their international enterprise operations into a 50:50 joint venture. The venture will merge BT International with Verizon's international enterprise wireline arm, with Verizon paying BT an equalisation payment of $625 million. It will serve more than 3,000 customers across over 180 countries, representing around $4 billion in combined annual revenue. Completion is expected in 2027, subject to regulatory clearances. BT has updated its fiscal 2027 outlook and mid-term guidance, as BT International will be reported as a discontinued operation.
BT Group PlcBT receives $625M equalization payment and will report BT International as discontinued, improving fiscal outlook.
Verizon Communications IncVerizon pays $625M equalization and combines international wireline into JV, but impact on overall Verizon is mixed and not central.