Story perspectives

BT, Verizon Form 50/50 $4B Enterprise Venture

6/29/2026

Summary

BT & Verizon Merge

BT Group and Verizon announced a 50/50 venture to merge their enterprise operations.
The venture will serve over 3,000 customers in over 180 countries, generate about $4 billion annually, involve a $625 million equalisation payment from Verizon to BT, grant equal voting rights, and aim for a 2027 close.
Martijn Blanken, former EXA Infrastructure chief, will be CEO-designate on 1 September 2026, with the venture incorporated in Jersey and headquartered in the United Kingdom.

Summary

BT Shares Rise

BT’s share price rose about 1% in London trading, lifting the stock to the FTSE 100 lead at 198.8p.
The deal lets BT treat its international division as a discontinued operation, trimming the 2027 revenue forecast by £2 billion.
BT’s restructuring targets a headcount of 75,000-80,000 by 2030 within a £3.7 billion cost-saving programme, with CEO Allison Kirkby earning £5.6 million last year, the highest for a BT chief executive in over a decade.

History

Historical Context

After Vodafone merged with AirTouch on 30 June 1999—valued at $56 billion and creating the first truly global mobile operator—the combined firm partnered with Bell Atlantic to launch Verizon Wireless in April 2000. That cross-border consolidation, cleared by the FCC and UK regulator, set a precedent for today’s BT-Verizon 50/50 venture targeting worldwide service expansion.

1 of 3

BT & Verizon Merge

BT Group and Verizon announced a 50/50 venture to merge their enterprise operations.
The venture will serve over 3,000 customers in over 180 countries, generate about $4 billion annually, involve a $625 million equalisation payment from Verizon to BT, grant equal voting rights, and aim for a 2027 close.
Martijn Blanken, former EXA Infrastructure chief, will be CEO-designate on 1 September 2026, with the venture incorporated in Jersey and headquartered in the United Kingdom.

1 / 3