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Verizon Slashes Yahoo Deal By $300 Million After Data Breaches

Forbes logo Forbes 15/02/2017 Brian Solomon, Forbes Staff

yahoo marissa mayer sold verizon© Yahoo CEO Marissa Mayer has presided over a declining business. (AP Photo/Eric Risberg, File) yahoo marissa mayer sold verizon

Nothing has gone particularly well for Yahoo ever since Verizon agreed to buy its core web business last July for $4.8 billion. But the light at the end of the tunnel may finally be here.

Multiple reports on Wednesday suggested that Verizon and Yahoo would finalize a revised transaction at a price $250 million to $300 million less than the original sale. Yahoo shares popped more than 1% on the news, as investors express relief that the historic transaction will not fall apart completely.

Yahoo stock movements mostly track the movement of Alibaba shares, since the single largest part of Yahoo’s value is in its stake in the Chinese ecommerce giant. However, Yahoo has lagged Alibaba’s performance over most of the last year as its transaction with Verizon was held up.

According to the Wall Street Journal and Reuters, Verizon has not completed its investigation into the two large data breaches revealed in the months since the acquisition was announced. However, the companies may be discussing an agreement to share future liabilities stemming from that hacking. Finalizing the deal would allow Verizon to being to integrate Yahoo’s core web properties and advertising technology with AOL, another Verizon purchase.

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