Verizon believes Yahoo email hacking 'material,' could affect deal | Reuters

WASHINGTON Verizon Corp's (VZ.N) general counsel, Craig Silliman, said on Thursday the company has a 'reasonable basis' to believe that Yahoo Inc's (YHOO.O) massive data breach of at least 500 million email accounts represents a material impact that could allow Verizon to withdraw from its $4.83 billion deal to buy Yahoo.Silliman told reporters that the data breach could trigger a clause that could allow Verizon to withdraw from the deal. '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.

Reuters October 14, 2016 00:30:04 IST
Verizon believes Yahoo email hacking 'material,' could affect deal
| Reuters

Verizon believes Yahoo email hacking material could affect deal
 Reuters

WASHINGTON Verizon Corp's (VZ.N) general counsel, Craig Silliman, said on Thursday the company has a "reasonable basis" to believe that Yahoo Inc's (YHOO.O) massive data breach of at least 500 million email accounts represents a material impact that could allow Verizon to withdraw from its $4.83 billion deal to buy Yahoo.Silliman told reporters that the data breach could trigger a clause that could allow Verizon to withdraw from the deal. "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. If they believe that it's not then they'll need to show us that," he said, declining to comment on whether talks are under way to renegotiate the purchase price.

(Reporting by David Shepardson; Editing by Leslie Adler)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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