Yahoo has been in for some real business this few months as they yet again intend to do with business with Verizon, who has initially agreed to purchase Yahoo for $4.8 Billion, the deal was dusted and agreed on. After some time, Verizon is now asking Yahoo to deduct the some of $1 Billion discount, according to recent reports.
It is widely believed that the request came after Verizon Communications learned about the recent issues about hacking and spying in past few weeks, Although, It has Just been two weeks ago that Yahoo made it known to the whole world that half a Billion was stolen in 2014 hack, marking it as the biggest data breach in history.
Based on what happened, (AOL CEO Tim Armstrong), who runs the Verizon subsidiary, is just angry about the whole issue, and as well as Yahoo’s lack of disclosure, which they are even seeking to pull out of the deal completely or reducing the price tag on the deal, the New York Post claimed.
“In the last day, we’ve heard that Tim [Armstrong] is getting cold feet,” a source reportedly told the Post. “He’s pretty upset about the lack of disclosure, and he’s saying can we get out of this or can we reduce the price?“
Armstrong has just meet with the Yahoo executives based on the price reduction, but reports has it that Yahoo is just yet to give them a listening ear as they claim that it’s just a deal, and there’s no legal recourse to change the terms, according to the paper. Although Verizon and Yahoo are still yet to comment on the matter.
Know it that Verizon just announced the Yahoo acquisition deal back in July, with the sole interest of joining it with AOL. The company yet to make a bold step as they are just thinking combining Yahoo and AOL to form a third force to compete with Almighty Google and Facebook for digital advertising.