Jun 29, 2026 · 8 min
Verizon partners with BT as British American Tobacco cuts five thousand jobs
BT Deal, BAT Cuts, Prosus Rises
Major corporate restructurings and massive investment windfalls are signaling how multinational giants are navigating shifting global economic pressures.
- 1Verizon and BT Group are forming an international joint venture backed by a six hundred and twenty-five million dollar payment to BT.
- 2British American Tobacco plans to slash over five thousand jobs to reduce costs and simplify its global organizational structure.
- 3Prosus saw its profits more than double due to the explosive growth of its investment stake in Chinese giant Tencent.
Don't miss
Tiwa Adebayo details how Prosus doubled its profits purely on the strength of its investment stake in Tencent.
The brief
A major reshuffling is underway in global markets as telecom giants consolidate international operations, tobacco firms aggressively cut costs, and tech holding companies reap massive windfalls from their investments in Chinese tech.
BT Group is securing a $625 million equalization payment through a new joint venture with Verizon Communications, which will combine the two telecommunications giants' international business segments.
To combat rising costs and streamline operations, British American Tobacco is planning to eliminate approximately 20% of its global workforce, a move that will cut more than 5,000 jobs worldwide.
Meanwhile, Dutch investment conglomerate Prosus has seen its profits more than double, a massive surge driven almost entirely by the performance of its valuable stake in Chinese multimedia giant Tencent.
What was said on this episode
10 statements · 6 positive · 4 negative
Verizon’s payment implies a BT sale multiple above ten times EBITDA.
“this balancing payment from Verizon does imply quite a generous sale multiple for BP. It's more than 10 times EBITDA”
Listen at 1:42
Investors reacted positively to the Verizon-BT deal, lifting BT shares.
“So a positive reaction for this Deal for BT this morning.”
Listen at 2:38
British American Tobacco is reducing its workforce by approximately one-fifth.
“it is reducing its workforce by about 1/5.”
Listen at 2:49
British American Tobacco plans to cut more than 5,000 jobs by year-end.
“by the end of this year, B80 slashing 5,000, over 5,000 actually jobs”
Listen at 2:59
British American Tobacco faces falling demand for traditional cigarettes.
“it is contending with this falling demand that we're seeing in the sector for traditional cigarettes.”
Listen at 3:33
British American Tobacco aims to derive over half its revenue from smoke-free nicotine products.
“they also want to generate more than half of their revenue from smoke free nicotine products.”
Listen at 3:56
Further British American Tobacco job cuts are likely before year-end.
“So it's likely we'll see further cuts before the end of the year. There from bat”
Listen at 4:15
Prosus’s profit more than doubled in the last fiscal year.
“They've revealed today that profit has more than doubled in the last fiscal year.”
Listen at 4:34
Prosus’s profit growth was primarily driven by a higher value of its Tencent stake.
“primarily this is due an increase in the value of the stake that it has in Tencent in China.”
Listen at 4:40
Prosus is a company to watch as the technology sector continues changing.
“So it's certainly one to watch, especially as we see the tech story continuing to make these twists and turns.”
Listen at 5:18
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
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