Verizon, Britain’s BT to Form International Connectivity Joint Venture

Verizon Communications and BT Group said they would merge their international enterprise operations to form a joint venture, turning to a partnership to provide connectivity services to thousands of clients across several countries. The two companies said in a joint statement that they had signed an agreement to set up the joint venture, in which both groups will have equal voting rights. The joint venture is expected to serve over 3,000 clients in more than 180 countries, representing roughly $4 billion in combined annual revenue. The deal would allow Verizon and BT to tap each other’s networking infrastructure and scale to serve customers internationally, relieving their respective businesses and making it easier for the companies to focus on their domestic markets.