Verizon Projects $800 Million Q2 Loss as BT Joint Venture Triggers Held-for-Sale Charge
Updated
Updated · Bloomberg · Jun 29
Verizon Projects $800 Million Q2 Loss as BT Joint Venture Triggers Held-for-Sale Charge
1 articles · Updated · Bloomberg · Jun 29
Summary
$700 million to $800 million is the second-quarter loss Verizon said it expects after agreeing to combine its international business with BT Group in a joint venture.
Monday's regulatory filing said the hit stems from classifying the businesses Verizon is contributing to the venture as assets and liabilities held for sale.
The projected loss is an accounting effect tied to the BT deal rather than a newly disclosed change in Verizon's underlying operations, based on the filing.