Verizon BT is pairing its international enterprise operations in a 50:50 joint venture, and Verizon will pay BT a $625 million equalization payment. The deal puts more than 3,000 customers across more than 180 countries under one structure while the parent companies keep equal voting rights.
Martijn Blanken Joins In 2026
Martijn Blanken has been named Chief Executive Officer-designate of the new joint venture, conditional on completion of the transaction. He brings almost three decades in senior leadership positions across telecommunications, technology and digital infrastructure, and his career has included roles at Telstra, Openwave Systems, EXA Infrastructure and KPN.
From September 1, 2026, he will join BT and work with both parent companies while observing relevant regulatory requirements. For customers, that gives the new business a named leader before the transaction closes, which is the clearest sign yet that the companies are moving from announcement to operating design.
BT International And Verizon Wireline
The new company will bring together BT International and Verizon’s international enterprise wireline arm. The combined operations represent approximately $4 billion in annual revenue, making the venture a sizeable global connectivity platform rather than a side unit inside either group.
Allison Kirkby said the announcement marks a major milestone for BT International and an important step forward for BT as a whole. Dan Schulman said international customers require secure, flexible connectivity that works seamlessly across borders and cloud environments. Those priorities sit at the center of the new structure, which is built for multinational clients that need one platform across many markets.
Equal Owners, Different Focus
Both BT and Verizon will hold equal voting rights in the venture, but the parent companies say they will be better able to focus on their domestic markets while supporting the new business as equal shareholders. That split is the tension in the deal: the companies are combining a global operation even as they try to sharpen their separate national priorities.
Completion of the transaction is still pending, so the practical change for customers will come only when the new structure is fully in place. Until then, the key number is the $625 million transfer, which balances the ownership move and signals how the two sides intend to divide value in the new venture.
