Freshfields advises BT Group on joint venture with Verizon to create international connectivity platform

Global law firm Freshfields has advised BT Group plc on its agreement with Verizon Communications Inc. to combine their respective international enterprise operations in a 50:50 joint venture. 

The proposed joint venture will bring together BT International and Verizon’s international enterprise wireline arm to create a scaled international connectivity business focused on serving multinational organisations. The new company is expected to serve more than 4,000 customers across more than 200 countries, representing approximately US$4 billion in combined annual revenue. 

Freshfields’ partners Meredith Bayley, Kate Cooper and Piers Prichard Jones led a global team of more than 20 partners and 80+ counsel and associates advising BT Group plc across all legal aspects of the transaction, with support from partners including Rikki Haria on antitrust and foreign direct investment, Paul Davison on tax, Alice Greenwell on employment, Julia Haas on real estate, Giles Pratt on IP/ IT and data, Lukas Treichl on telecoms / network commercial matters and Dawn Heath on pensions.

The transaction is expected to complete in 2027, subject to regulatory clearances and other customary closing conditions. 

Further information on the transaction can be found here.