BT Group and Verizon announce plans to combine their international enterprise fixed-line operations into a new 50-50 joint venture. The agreement is designed to provide multinational customers with cross-border connectivity, cloud services and security, with the venture positioned for what both companies describe as a “cloud-first” approach in an AI era. The new company is expected to serve more than 3,000 multinational organizations across over 180 countries.
Under the terms reported by multiple outlets, Verizon will pay BT an equalization amount of $625 million to ensure equal voting rights. Financial Times and other coverage describe the deal as a significant milestone in BT’s strategy of shifting focus toward its domestic operations, while extending Verizon’s global enterprise reach through the combined offering.
The joint venture is expected to complete in 2027, subject to regulatory approvals.
