{"id":22343,"date":"2017-02-16T06:27:29","date_gmt":"2017-02-16T06:27:29","guid":{"rendered":"http:\/\/www.biphoo.com\/bipnews\/?p=22343"},"modified":"2017-02-16T06:27:29","modified_gmt":"2017-02-16T06:27:29","slug":"verizon-close-to-yahoo-deal-price-cut-of-250-350-million","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/technology\/verizon-close-to-yahoo-deal-price-cut-of-250-350-million.html","title":{"rendered":"Verizon close to Yahoo deal, price cut of $250-350 million"},"content":{"rendered":"

\n\tVerizon close to Yahoo deal, price cut of $250-350 million<\/span><\/span><\/strong><\/span>
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\n\tVerizon close to Yahoo deal, price cut of $250-350 million:-<\/strong> Verizon Communications Inc (VZ.N) is close to a revised deal to buy Yahoo Inc's (YHOO.O) core internet business for $250 million to $350 million less than the original agreed price of $4.83 billion, according to a source briefed on the matter.<\/span><\/span><\/span>\n<\/p>\n

\n\tSince last year, Verizon had been trying to persuade Yahoo to amend the terms of the acquisition agreement to reflect the economic damage from two cyber attacks. A source told Reuters that the deal, which could come as soon as this week, will entail Verizon and Yahoo sharing the liability from potential lawsuits related to the data breaches.<\/span><\/span><\/span>\n<\/p>\n

\n\tAnother person familiar with the situation said the price cut was likely to be around $250 million, a figure that Bloomberg reported earlier on Wednesday.<\/span><\/span><\/span>\n<\/p>\n

\n\tA representative from Verizon declined to comment. Yahoo did not immediately respond to requests for comment.<\/span><\/span><\/span>\n<\/p>\n

\n\t"Maybe this isn't quite as much of a discount as initially thought, but it's at least something," said Dave Heger, senior equity analyst at Edward Jones.<\/span><\/span><\/span>\n<\/p>\n

\n\tVerizon hopes to combine Yahoo's search, email and messenger assets, as well as advertising technology tools, with its AOL unit, which Verizon bought in 2015 for $4.4 billion. Verizon has been looking to mobile video and advertising for new sources of revenue outside an oversaturated wireless market.<\/span><\/span><\/span>\n<\/p>\n

\n\tBut Sunnyvale, California-based Yahoo has been under scrutiny by federal investigators and lawmakers since disclosing the largest known data breach in history in December, months after disclosing a separate hack.<\/span><\/span><\/span>\n<\/p>\n

\n\tThe U.S. Securities and Exchange Commission has launched a probe into whether Yahoo should have disclosed the breaches, which occurred in 2013 and 2014, sooner, according to a report in the Wall Street Journal last month.<\/span><\/span><\/span>\n<\/p>\n

\n\tOn Wednesday, Yahoo sent a warning to users whose accounts may have been accessed by intruders between 2015 and 2016, as part of a data security issue related to the breach it disclosed in December. A person familiar with the matter said notifications have gone out to a mostly final list of users.<\/span><\/span><\/span>\n<\/p>\n

\n\tYahoo shares rose 1.5 percent to $45.69 in afternoon trading. Verizon shares fell 0.7 percent to $47.93.<\/span><\/span><\/span>\n<\/p>\n

\n\tSo<\/span><\/span>urce:- http:\/\/www.reuters.com\/article\/us-yahoo-m-a-verizon-idUSKBN15U21R<\/span><\/span><\/span><\/p>\n

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