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Verizon sought $925 million penalty for Yahoo’s lax security

Published Tuesday March 14


Photo: Kron4

SAN FRANCISCO — Verizon initially thought the biggest data breaches in internet history merited a $925 mill. discount on its acquisition of Yahoo’s online services, nearly 3 times more than the 2 companies finally agreed upon.

Yahoo disclosed completely new details about its negotiations with Verizon in a regulatory filing Monday. The filing doesn’t say why Verizon relented on its original demand, issued on Feb. 1. Verizon ultimately accepted Yahoo’s offer to dapper the sale price by $350 mill. instead.

Verizon Communications is now aiming to complete the revised $4.48 billion purchase by the end of June.

Article length: About 350 words.
Tags: Fairfield
Read more at Kron4

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