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Verizon executive says company unsure about Yahoo deal

Reuters logo Reuters 5/01/2017

A Verizon sign at a retail store in San Diego© REUTERS/Mike Blake/File Photo A Verizon sign at a retail store in San Diego

A senior executive of Verizon Communications Inc (VZ.N) said on Thursday the company was unsure about its planned acquisition of Yahoo Inc's (YHOO.O) internet business.

"I can't sit here today and say with confidence one way or another because we still don't know," Marni Walden, president of product innovation and new businesses, said at the Citi 2017 Internet, Media & Telecommunications Conference in Las Vegas.

Yahoo came under renewed scrutiny by federal investigators and lawmakers last month after disclosing the largest known data breach in history, prompting Verizon to demand better terms for its planned purchase.

A photo illustration shows a Yahoo logo on smartphone in front of a displayed cyber code and keyboard© REUTERS/Dado Ruvic/Illustration A photo illustration shows a Yahoo logo on smartphone in front of a displayed cyber code and keyboard

However, Walden added that the merits of the deal still made sense.

(Reporting by Aishwarya Venugopal and Narottam Medhora in Bengaluru; Editing by Maju Samuel)

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