BT Group and Verizon Communications have agreed to merge their international business units, creating a new joint venture with annual sales of approximately $4 billion (£3 billion).
The combined entity will serve more than 3,000 enterprise customers across over 180 countries, consolidating the global reach of both legacy carriers into a single operational structure.
The announcement arrives as global mergers and acquisitions are on pace to reach $4 trillion in deal value this year, marking the most active period for corporate consolidation since 2021.
Under the terms of the agreement, Verizon will provide the initial capital injection for the new venture.
The deal represents a strategic pivot for both companies, allowing them to focus domestic resources on competitive home markets while pooling international assets to compete more effectively against global rivals such as AT&T and Deutsche Telekom.
The joint venture is expected to streamline operations and reduce overhead costs associated with maintaining separate international divisions.
The announcement arrives as global mergers and acquisitions are on pace to reach $4 trillion in deal value this year, marking the most active period for corporate consolidation since 2021.