BT and Verizon form $4 billion enterprise JV
BT and Verizon agreed to create a $4 billion joint venture for international enterprise operations, with Verizon paying BT $625 million and both companies holding equal voting rights.
TL;DR
BT and Verizon said the new joint venture will combine their international enterprise operations. The companies valued the venture at $4 billion.
Verizon agreed to pay BT an equalisation payment of $625 million as part of the transaction. BT and Verizon will each have equal voting rights in the new venture.
The joint venture will serve more than 3,000 customers across more than 180 countries. The companies said the business will focus on enterprise operations with an international footprint.
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