Published: June 29, 2026 at 8:14 am
BT Group and Verizon have agreed to form a joint venture combining their international enterprise operations.
Verizon has agreed to pay BT an equalisation payment of $625 million as part of the deal, with both holding equal voting rights following expected completion in 2027.
The new company will serve more than 3,000 customers across more than 180 countries, representing approx. $4 billion in combined annual revenue.
Martijn Blanken has been appointed CEO-designate of the new joint venture, conditional on completion of the transaction.
BT chief executive Allison Kirkby has been looking to refocus BT, founded 180 years ago, on its home UK market and shed international assets.