Verizon closes in on completing Yahoo deal with up to $350m slashed from initial price

Verizon Wireless is reportedly close to finalizing its proposed takeover of Yahoo, minus anywhere between $250-to-$350m from the initially agreed $4.8bn sale price, according to sources close to the negotiations.

The renegotiated deal is close to completion, but repeated reports of security breaches, compromising anywhere up to 1 billion Yahoo accounts, have led for the acquirer to push for the significant mark down in price, according to a source cited by Bloomberg.

As a result of the renegotiated deal, Verizon and what remains of Yahoo – it revealed it will be remained Altaba last month – will share any legal responsibilities related to the breach, according to the report which additionally claimed that its completion could be announced within the coming days or weeks.

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Yahoo's historic woes over data breaches are said to be at the core of the renegotiated deal