Deals
Verizon Is Said to See Yahoo Breach Affecting Acquisition
- Phone carrier said to still await results of investigation
- Hack of 500 million users wasn’t disclosed before deal
This article is for subscribers only.
Verizon Communications Inc.’s top attorney said it would be reasonable to assume that the hack into Yahoo! Inc.’s e-mail accounts represents a material impact to the phone carrier’s acquisition of the internet company’s online businesses, a person familiar with the matter said.
Verizon hasn’t definitively concluded that there was a material impact and is still waiting for Yahoo to complete its investigation into the situation, said the person, who asked not to be identified discussing private information. Reuters reported earlier Thursday that Verizon General Counsel Craig Silliman saw reasonable basis for a material impact, which could let the company withdraw completely from the $4.83 billion deal.