16 December 2016
Following the revelation earlier this week that unknown attackers obtained sensitive personal data for more than 1 billion accounts on Yahoo back in March 2013, Verizon is reportedly looking to cut the price it had planned to purchase Yahoo for.
Verizon had announced in the summer that it plans to buy Yahoo for $4.83 million. However, since the announcement, Yahoo has admitted to two massive security breaches.
The first was admitted in September when Yahoo said that hackers stole details for 500 million accounts in 2014.
Since Yahoo’s latest admission to a massive security breach, Verizon has been reported to be considering pulling out of the deal.
But according to reports from Bloomberg and Reuters, Verizon is now reconsidering the deal with Yahoo and is expected to go through with it but at a reduced price.
Verizon is under pressure from shareholders to reassess the value of the deal, with Yahoo seen as damaged goods, Bloomberg says.
Yahoo, meanwhile, is seeking to go forward with the deal. “We are confident in Yahoo’s value, and we continue to work towards integration with Verizon,” a spokesperson told Reuters.