Verizon Communications Inc.
Verizon Announces Joint Venture with BT Group plc
Summary
Verizon Communications Inc. announced on June 28, 2026, a joint venture with BT Group plc to combine their international wireline connectivity and managed network services businesses. Verizon will contribute certain subsidiaries and make a $625 million cash payment to the new joint venture company, NewCo, in exchange for a 50% ownership stake. The transaction is expected to be accretive to Verizon Business Group EBITDA in Q2 2026. Verizon also expects to record an estimated loss of $700 million to $800 million on the sale of the contributed assets, a severance charge of $350 million to $450 million, and asset rationalization charges of $200 million to $300 million in Q2 2026.
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About Verizon Communications Inc.
Verizon Communications Inc. is a leading telecommunications company that provides a wide array of communication services and products in the United States and globally. As a major player in the telecommunication industry, Verizon's primary function is to deliver wireless communications, broadband, and fiber optic services, aiming to keep people connected across various platforms. The company’s notable features include its extensive 5G and fiber optic network infrastructure, which significantly impacts sectors like technology, media, and consumer communications. It offers services to individual consumers, businesses, and government entities through various channels, including its retail stores and online platforms. Headquartered in New York City, Verizon is crucial in driving innovation in communication technologies and maintaining robust network solutions to meet growing data demands. Its influence extends beyond traditional telecommunication, also impacting emerging fields such as Internet of Things (IoT) and smart cities, helping to shape the future of connectivity.
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