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Verizon and BT form joint venture

Verizon and BT are merging their international networking divisions into a new $4 billion joint venture.

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The brief

Verizon and BT have announced the formation of a joint venture by spinning off their respective international networking arms. The deal is valued at $4 billion.

Coverage from Bloomberg, The Register, and The Guardian emphasizes the scale of the global business being created. Seeking Alpha and Bloomberg report that Verizon expects a quarterly loss of up to $800 million as a result of the deal and the reclassification of assets.

Attention now turns to Verizon's estimated Q2 loss and the operational integration of the two companies' networking divisions.

Synthesized by Archynetys from the headlines below under a strict no-invention contract. ✓ fact-checked: all claims supported by sources Updated 21d ago.

Quick answers

What is the value of the joint venture?

The deal is valued at $4 billion.

How is this affecting Verizon's financials?

Verizon expects a quarterly loss of up to $800 million due to the deal and asset reclassification.

What parts of the businesses are being merged?

The companies are spinning off their international networking arms.

Coverage (10)

Topics

Verizon BT Joint Venture International Networking

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