Profile image
By SiteProNews (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Verizon in Talks With Yahoo to Re-Negotiate Lower Price

Wednesday, February 15, 2017 13:55
% of readers think this story is Fact. Add your two cents.

Verizon is working out a new deal with Yahoo that will see the $4.8-billion purchase price for the company’s Internet division slashed by roughly $250 million.

People “familiar with the matter” told Bloomberg that Verizon and Altaba, the name Yahoo will assume once the sale goes through, will share any ongoing legal responsibilities connected to the two recently revealed breaches of Yahoo’s systems that, in total, affected more than 1.5 billion accounts.

Yahoo and Verizon struck their $4.83-billion all-cash deal last July and the transaction was to be finalized in the first quarter of 2017. At that time, Yahoo was to be integrated with AOL under Marni Walden, EVP and president of the product innovation and new businesses organization at Verizon.

Verizon general counsel Craig Silliman had indicated at a press conference the breach of 500 million user accounts disclosed last September followed by the December revelation during which Yahoo admitted to a second hack, this time affecting one billion accounts, could impact the sale.

Since then, it has been rumored Verizon would ask for a discount, although many estimated the amount to be quite a bit higher: a $1-billion discount off the purchase price.

Gabelli & Co. analyst Brett Harriss told Bloomberg there is “more certainty around there actually being a sale” than there used to be.

“It looks like they’re going to get a price cut, but it’s not dramatic,” he added.


The post Verizon in Talks With Yahoo to Re-Negotiate Lower Price appeared first on SiteProNews.


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.