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REPORT: Verizon is close to a revised deal that cuts Yahoo's price by about $250 million

Akin OyedeleFeb 15, 2017, 21:30 IST

AP Photo

Verizon has tentatively reached a revised deal with Yahoo that could be released in the coming days, according to Bloomberg.

The deal cuts Yahoo's price by about $250 million, according to the report.

Verizon was said to have reconsidered the $4.8 billion deal in December after Yahoo announced that 1 billion account credentials had been stolen as far back as 2013. Both companies will reportedly share legal responsibility for the hack.

Yahoo shares gained nearly 2% in trading after the news crossed.

More to come ...

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