Verizon may cut the deal with Yahoo!

    0
    917

    July, this year, Verizon communications agreed to buy Yahoo‘s core Internet properties. But Yahoo’s recent security breaches may force Verizon to reconsider its $4.83 billion deal to acquire the internet company. It is now exploring ways to call the deal off after the search engine revealed hacking of over million of accounts in two major hacking incidents.


    Earlier this year, in September, Yahoo confirmed the data breaching which affected 500 million user accounts. Later in a statement, Verizon said it had been made aware of the breach immediately but had limited information about the matter. Though this incident in itself was not easy to digest that once again Yahoo shocked the world on Wednesday confirming another hack.  The hack is considered to be the largest (known) hack of all time. Reports have claimed that the hack has resulted into hitting the security of one billion accounts. Seeing this latest breach, shares of Yahoo have fallen down by 4.8 percent in few days.

    A story from the New York Post has alleged that Verizon is asking for a discount of $1 billion after reviewing all of these events. At the same time, the Yahoo deal team is pushing back hard against any attempts to negotiate the price down, sources said. Yahoo is telling Verizon that a deal is a deal and that the telecom giant has no legal avenue to change the terms. In spite of all of this, Verizon is desperate to get some discount on the deal and that is somewhat justified as we know Yahoo isn’t making life easy for Verizon.

                

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here