BT's Long-Seeking Solution Found: Telecoms Giant Teams Up with Verizon In a major development, British telecoms group BT has finally found a buyer for its international operations after an 18-month search. The company has partnered with US mobile giant Verizon to form a 50/50 joint venture, creating a massive entity with over 3,000 customers across 180 countries and a combined annual revenue of $4 billion. As part of the deal, Verizon will pay a hefty $625 million "equalisation" fee to BT to ensure equal voting rights in the new venture. The move marks a significant shift in BT's strategy and is set to have far-reaching implications for the global telecoms landscape.
UK telecoms group’s 50/50 venture ends more than 18-month search for a buyer of its international operationsBusiness live – latest updatesBT and the US mobile company Verizon are to combine their international businesses, ending the British telecom group’s more than 18-month search for a buyer.Verizon will pay a $625m (£473m) “equalisation” fee to BT to guarantee equal voting rights in the new 50/50 joint venture, the companies announced on Monday. The deal is expected to create a company with more than 3,000 customers across about 180 countries and $4bn in combined annual revenue. Continue reading...
