Verizon is reportedly looking for a $250 million price cut on Yahoo

Yahoo rallies on report that revised Verizon deal is close

Verizon's original deal, agreed to back on July 25, has been under intense pressure since Yahoo revealed soon thereafter that it had been the victim of two separate and unprecedented data breaches.

Both companies say the revised takeover deal will include a provision that Verizon and Yahoo! share the liability for the legal fallout in the case. Reuters reports that the final price reduction could in fact be as high as $350 million. In September 2016, Yahoo announced that information on at least 500 million email accounts was stolen by "state-sponsored" hackers in 2014.

The country's largest wireless carrier announced previous year it planned to acquire Yahoo's core business for $4.83 billion.




Yahoo Inc. (YHOO - Free Report) shares rose 1.62% to $45.75 in afternoon trading Wednesday. It has previously suffered an inquiry under federal investigators and lawmakers after surfacing what turned out to be one of the biggest data breach in the history. After the revelations, several top officials at Verizon said that the hacks would likely "materially" impact that deal and result in a lower acquisition price.

The reported renegotiations follow months of speculation on whether Verizon would attempt to either revise the deal or walk away from the purchase entirely.

Verizon hopes that its new acquisition will help it move outside its traditional telecommunications role and into the mobile media and advertising world, while Yahoo simply seems eager for some relief from it's many problems. Yahoo did not immediately respond to a request for comment.

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