The consolidation follows previous asset sales, including BT's Irish wholesale business and its U. S.
government contracting subsidiary.
"Our international customers require secure, flexible connectivity that works seamlessly across borders and cloud environments," said Dan Schulman, CEO of Verizon.
"When we thought about how to best support them, this joint venture was the clear answer."
Verizon has similarly engaged in severe corporate streamlining, which included an initiative to eliminate roughly 13,000 positions across its wider organization to decrease operational friction.
The newly formed entity will be led by Chief Executive Officer-designate Martijn Blanken, who is scheduled to join BT on September 1, 2026, to oversee launch preparations.
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The transaction is projected to formally close sometime in 2027, subject to customary regulatory clearances and consultations with employee representatives.
