Can you hear the price tag dropping?
Yahoo announced its sale to Verizon in late July, and yet the acquisition could fall through given the unexpectedly massive breach of at least 500 million Yahoo user accounts.
Verizon’s lawyers said that there is a “reasonable basis” for them to withdraw from the deal, which has yet to close.
“I think we have a reasonable basis to believe right now that the impact is material and we’re looking to Yahoo to demonstrate to us the full impact. If they believe that it’s not then they’ll need to show us that,” Verizon general counsel Craig Silliman said at a Verizon event Thursday in Washington, D.C, according to Reuters. Read more…