Verizon signals Yahoo data breach may affect acqusition
Verizon has signaled that Yahoo’s massive data breach may be enough reason to halt its US$4.8 billion deal to buy the internet company.
On Thursday, Verizon’s general counsel Craig Silliman said the company has a “reasonable basis” to believe that the breach involving 500 million Yahoo accounts has had a material impact on the acquisition. This could give the company room to back out or get a large discount.
“We’re looking to Yahoo to demonstrate to us the full impact,” he added. “If they believe that it’s not, then they’ll need to show us that.”
In response, Yahoo said, “We are confident in Yahoo’s value and we continue to work towards integration with Verizon.”