Verizon isn’t calling off its plan to buy Yahoo but, in a move that shocks no one, is cutting some cash off its offer price after massive data breaches and resulting attention from lawmakers.
Bloomberg cites those ever mysterious “people familiar with the matter,” who say Verizon is close to renegotiating its $4.8 billion agreement.
But while it’s certainly true that $250 million is a lot of money, in the scope of a $4.8 billion deal between two major companies, it’s basically pocket change. That, and the fact that Verizon is expected to share any ongoing legal responsibilities related to the data hacks with the resulting entity (which will be renamed Altaba Inc.), according to those insiders, must mean Yahoo has something Verizon really, really wants.
The new agreement may be announced in a few days, or a few weeks, the sources told Bloomberg, but it isn’t final yet and could still change.
A Yahoo spokeswoman declined to comment on the matter to Bloomberg.
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