June 29 (Reuters) - BT and Verizon on Monday

announced a deal to combine their international enterprise

operations into a 50:50 joint venture, focussing on serving

multinational clients and bringing together $4 billion in

combined annual revenue.

Verizon has agreed to pay BT an equalisation payment of $625

million, and both companies will hold equal voting rights in the

new venture, which will serve more than 3,000 customers in over

180 countries.

The deal marks a milestone for BT chief executive Allison

Kirkby, who has been steadily refocusing the 180-year-old

British telecoms group on its home UK market while shedding

international assets.

Verizon CEO Dan Schulman, who has been pushing his own

turnaround at the U.S. wireless carrier, said the venture was

"the clear answer" for international customers who need secure,

flexible connectivity that works across borders and cloud

environments.

BT and Verizon named Martijn Blanken as chief executive

officer-designate of the new company. Blanken will join BT Group

from September 1, 2026, and work with both parent companies as

they prepare to launch the joint venture.