---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-286771"
form_type: "8-K"
ticker: "VZ"
cik: "0000732712"
company_name: "VERIZON COMMUNICATIONS INC"
filed_at: "2026-06-29T10:24:49+00:00"
generated_at: "2026-06-29T10:30:45.071575+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-286771
- form_type: 8-K
- ticker: VZ
- cik: 0000732712
- company_name: VERIZON COMMUNICATIONS INC
- filed_at: 2026-06-29T10:24:49+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/732712/000119312526286771/0001193125-26-286771-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/732712/000119312526286771/d165697d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-286771
- JSON: https://secwatch.observer/filing/0001193125-26-286771.json
- Plain text: https://secwatch.observer/filing/0001193125-26-286771.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.