Verizon forms 50/50 JV with BT, expects $700M-$800M Q2 loss on held-for-sale classification

VERIZON COMMUNICATIONS INC

Joint venture with BT Group plc: Verizon contributes international wireline business, pays $625M to NewCo (for BT); owns 50% of NewCo.
Q2 2026 expected loss of $700M-$800M from held-for-sale classification of contributed business.
Q2 2026 expected severance charge of $350M-$450M from headcount reduction initiatives.
Q2 2026 expected asset rationalization charges of $200M-$300M from ceasing use of real estate and network assets.
Transaction subject to regulatory approvals; expected to be accretive to Verizon Business Group EBITDA.

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