BT Group and US carrier Verizon will merge their international operations into a 50‑50 joint venture, with Verizon paying an equalisation fee of $625mn to secure equal voting rights. The new entity will serve over 3,000 corporate customers in roughly 180 countries. Incorporation will occur in Jersey, while tax residence remains in the UK, signalling a strategic split of BT’s former 8,000‑staff global unit.

The divestiture aligns with CEO Allison Kirkby’s plan to concentrate BT on domestic broadband and mobile markets, where she aims to boost profitability amid a £3.7bn cost‑cutting programme through 2030. For Verizon, shedding the overseas arm eases pressure on its US business, which has been trimming staff and lowering prices to combat competition from T‑Mobile and AT&T.

Both parties say the international businesses will operate independently until the transaction, expected to close in 2027, receives regulatory clearance and employee‑representative sign‑offs. The deal trims BT’s headcount target from 130,000 to about 75,000 by 2030, while giving Verizon a leaner portfolio to focus on its core US market. Verizon and BT Group therefore emerge with clearer strategic focus.