Verizon is close to a renegotiated deal for Yahoo! that would reduce the price of the USD 4.8 billion takeover by about USD 250 million, people familiar with the matter told Bloomberg. Other reports from the wall Street Journal and Financial Times said the price cut could be USD 300 million, while Reuters said it was in the range of USD 250-350 million.
The company entered talks to reduce the price after the revelation of major security breaches at Yahoo, reducing the attractiveness of its business. In addition to the discount, Verizon and the entity that remains of Yahoo after the deal, to be renamed Altaba, are expected to share any ongoing legal responsibilities related to the breaches, the reports said.
An announcement of the new agreement could come in a matter of days or weeks. Representatives for Yahoo and Verizon declined to comment. Last month, Yahoo said the sale would be delayed to the second quarter as the company assesses the impact from the breaches and meets closing conditions. The deal was first announced in July and had been set to close in the first quarter of 2017.
