Mergers & Acquisitions ·
Verizon Communications Inc. entered into a transaction agreement with BT Group plc and Jasper NewCo Limited to form a…
VZVerizon Communications Inc
Verizon Communications Inc. entered into a transaction agreement with BT Group plc and Jasper NewCo Limited to form a 50/50 joint venture for their respective international wireline connectivity and managed network services businesses. Verizon will contribute its business and make a $625 million cash payment to the new entity. The company expects to record an estimated loss of $700 million to $800 million due to the classification of the business as held for sale, along with severance charges of $350 million to $450 million and asset rationalization charges of $200 million to $300 million in Q2 2026. Verizon is a telecommunications company providing wireless and wireline services.