BT, Verizon join forces to create $4 billion international JV for enterprise operations

BT and Verizon on Monday announced a deal to combine their international enterprise operations into a 50:50 joint venture, focussing on serving multinational clients ‌and bringing ⁠together $4 ⁠billion in combined annual revenue.

Verizon has agreed to pay BT an equalisation payment of $625 million, and both companies will hold equal voting rights in the new venture, which will serve more than 3,000 customers ⁠in over 180 ‌countries.