Search
marissa-mayer
Yahoo CEO Marissa Mayer. Photograph by Mike Pont Getty Images

Verizon Pushes For $1 Billion Discount on Yahoo Deal

Oct 06, 2016

Verizon Communications is pressing for a $1 billion discount off its pending $4.8 billion agreement to buy Yahoo , the New York Post reported, citing sources.

The Yahoo deal team is pushing back hard against any attempts to negotiate the price down, the paper said.

Last month Yahoo said at least 500 million of its accounts were hacked in 2014 and in a statement Verizon said it had been made aware of the breach immediately but had limited information about the matter.

U.S. senators accused Yahoo of "unacceptable" delay in discovering the hack and urged the U.S. Securities and Exchange Commission to investigate whether Yahoo and its senior executives fulfilled obligations to inform investors and the public about the hacking attack.

Verizon (vz) and Yahoo (yhoo) both declined to comment.

In July, Verizon agreed to buy Yahoo 's core Internet properties for $4.83 billion in cash, setting the stage for a big new internet push by the telecom giant.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions