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The release, published Jun 29, 2026, says BT Group and Verizon "today announced the signing of an agreement to combine their respective international enterprise operations into a 50:50 joint venture".
Records a $746 million pre-tax loss on writing the contributed business down to fair value; closing subject to regulatory approvals.[1]
The transaction agreement with BT and Jasper NewCo was signed on June 28, 2026; Verizon[1] expected a $700-800 million loss on classifying the business as held for sale.
Bloomberg market coverage of the BT-Verizon[1] deal on announcement day.
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