On Friday, it was reported that telecommunications giant Verizon VZ is looking to cut $1 billion off its $4.8 billion offer for Yahoo's YHOO core business. The New York Postoriginally reported the story.
This is most likely an after-effect of bad news for the web stalwart over the past few weeks. Yahoo recently revealed that in 2014, it had been hacked, and 500 million accounts-including usernames and passwords-were stolen.
And earlier this week, reports surfaced that claimed Yahoo scanned users' incoming emails for terrorist signatures for roughly a year, on classified orders from a secret Foreign Intelligence Surveillance Court.
According to unnamed sources, "The discount is being pushed because [Verizon] feels Yahoo's value has been diminished," writes the Post . However, Yahoo's team is pushing for the deal to close sooner rather than later, as well as fighting efforts to negotiate the deal price down in any way.
As a result, YHOO stock is sliding, down just over 1% in midday trading. VZ stock is also down about 0.50% today to $50.02 per share.
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