India, June 29 -- Telecom majors, BT Group plc and Verizon Communications Inc., have come together to combine their respective international enterprise operations into a 50:50 joint venture, with a view to creating a connectivity platform for multinational customers.
The British telecom major also trimmed its fiscal 2027 outlook to reflect BT International division to be reported as a discontinued operation following the JV deal. However, the firm maintained mid-term guidance of sustained growth in adjusted EBITDA and revenues.
BT shares were gaining around 1.13 percent in London, at 197.20 pence, while Verizon shares were losing 3.7 percent on the NYSE, trading at $44.81.
In a statement, the companies announced that BT International wil...