Verizon and BT Form $4 Billion 50:50 Enterprise Connectivity Joint Venture
Verizon and BT Group agreed to combine their international enterprise operations into a 50:50 joint venture expected to serve 3,000+ customers across 180+ countries, generating about $4 billion in annual combined revenue. BT and Verizon will share equal voting rights, with Verizon paying BT a $625 million equalisation payment as they prepare to launch the cloud-first connectivity platform.