Verizon is reportedly set to establish a joint venture with BT Group.

Golden Ten Data reported on June 29 that, according to sources, the largest wireless communication service provider in the United States, Verizon (VZ.N), is in advanced talks with UK telecommunications group BT Group, planning to integrate certain segments of their international businesses. The deal is expected to take the form of a joint venture; the equity ownership of the new entity will be adjusted, though the specific shareholding ratios and transaction terms have not yet been finalized. Sources indicated Verizon could announce an agreement with BT Group as soon as Monday. Currently, BT Group has a market value of approximately £19.4 billion ($25.7 billion), while Verizon’s market value is about $194 billion.