BT said it would form a joint venture with Verizon representing $4 billion in combined annual revenue. The 50:50 connectivity venture will serve more than 3,000 customers in around 180 countries. Martijn Blanken has been named CEO‑designate. Both firms aim to leverage existing network assets and enterprise services to capture multinational corporate demand and expand cross‑border connectivity offerings in 2027.

BT will reclassify its international arm as a discontinued operation, removing it from guidance 2027. The move forced the company to cut its FY2027 outlook, forecasting revenue of 17.1 billion to 17.6 billion pounds versus the prior 19‑19.5 billion range. EBITDA is projected at 8.1‑8.2 billion pounds, down from 8.2‑8.3 billion. The lower guidance reflects the loss of roughly £1.4 billion of revenue previously attributed to the overseas business.

The split gives Verizon immediate access to BT’s extensive global fiber footprint, while BT sheds a loss‑making segment to sharpen focus on its UK core. Investors may reassess BT’s valuation as the company leans on domestic broadband revenues, and the new entity could pressure rivals in the enterprise connectivity market. The joint venture will operate independently starting FY2027.