Verizon close to Yahoo deal, price cut of $250-350 million: sources | Reuters
Verizon Communications Inc (VZ.N) is close to a revised deal to buy Yahoo Inc’s (YHOO.O) core internet business for $250 million to $350 million less than the original agreed price of $4.83 billion, according to a source briefed on the matter.Since last year, Verizon had been trying to persuade Yahoo to amend the terms of the acquisition agreement to reflect the economic damage from two cyber attacks. A source told Reuters that the deal, which could come as soon as this week, will entail Verizon and Yahoo sharing the liability from potential lawsuits related to the data breaches.Another person familiar with the situation said the price cut was likely to be around $250 million, a figure that Bloomberg reported earlier on Wednesday.A representative from Verizon declined to comment. Yahoo did not immediately respond to requests for comment.
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