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

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

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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