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  • 10.13.16

Verizon may not want Yahoo anymore after data breach

What’s the return policy on a $4.83 billion corporation? Verizon Communications may be having second thoughts about its acquisition of Yahoo Inc. following news last month of a massive data breach affecting some 500 million email accounts. Craig Silliman, the telecom’s top lawyer, told reporters today that the breach—which Verizon apparently didn’t know about—could trigger a back-out clause in the transaction, Reuters reports.

According to Reuters, Silliman declined to say whether Verizon was renegotiating the deal, but he did say, “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.”  CZ