BT Group and Verizon are forming a joint venture to consolidate their international corporate customer business, with the new entity centered on the UK market and equal governance.

Martijn Blanken, formerly of Telstra, will be chief executive designate and join BT on September 1 ahead of completion, which is anticipated in 2027; Clive Selley will stay on as BT International CEO until the deal closes.

The new company will serve more than 3,000 customers across over 180 countries, with an estimated $4 billion in combined annual revenue and equal voting rights for both parents.

AI and cloud are the primary selling points, with platforms designed to support AI workloads and cloud integration.

The platform aims to be cloud- and AI-ready, allowing each parent to focus more on its domestic markets while participating as equal shareholders.

This arrangement is intended to let BT and Verizon concentrate on their core, domestic businesses while backing the joint venture as equal owners.

The deal is transitioning from an initial agreement toward an operating design, signaling progress toward centralized management and integrated international services.

Completion remains pending, so customers will experience changes only after regulatory and legal steps are completed and the JV is in operation.

The venture seeks to build a scalable, cloud-first, AI-first international connectivity platform emphasizing secure, compliant, and locally governed data practices.

Industry context frames the merger as a logical step, though true integration will depend on aligning different systems and corporate cultures.

Analyst commentary views the deal as strategically sensible to reduce underperformance and strengthen focus on domestic markets.

Reuters reported the announcement on June 29, 2026.