Verizon forms 50-50 JV with BT for international wireline, pays $625M, expects $700-800M Q2 loss

Filed June 29, 2026 · Period ending June 28, 2026 · ~1 min read

Key Changes

• high

  Verizon contributing international wireline connectivity and managed network services business to 50-50 joint venture with BT Group, paying $625M cash to BT at closing, subject to regulatory approvals.

  Item 7.01 — Regulation FD Disclosure verify on EDGAR →
• high

  Q2 2026 non-cash loss of $700-800M expected from held-for-sale classification of contributed business assets; does not represent cash outflow but will impact reported earnings.

  Item 7.01 — Regulation FD Disclosure verify on EDGAR →
• medium

  Severance charges of $350-450M expected in Q2 2026 from continued headcount reduction initiatives as part of transformation efforts.

  Item 7.01 — Regulation FD Disclosure verify on EDGAR →