Verizon is reportedly to pay $250 million less than its previously reported $4.8 billion for the acquisition of Yahoo’s Internet business. Sources report this to financial news agency Bloomberg.
This would bring the acquisition price to $4.55 billion. Verizon and Yahoo announced the planned acquisition last summer, but after an old hack at Yahoo turned out to be much bigger than thought and involved more than a billion accounts, Verizon is said to have renegotiated the price.
In addition, the acquisition will take place later than planned. Where it was originally intended that Verizon would take over Yahoo’s internet activities by March at the latest, that is now moving to the end of June at the latest. The acquisition is still awaiting approval from, for example, relevant authorities. The announcement of the lower offer would be made by Verizon in the coming weeks.
Yahoo claims to have over a billion monthly active users with its services. In addition to a search engine and advertising service, Flickr and Tumblr, both owned by Yahoo, are particularly popular. Only Yahoo’s core businesses are involved in the acquisition. The shares that Yahoo has in the Chinese internet company Alibaba and in Yahoo Japan will be transferred to a new investment company.