Yahoo's sale to Verizon Communications has taken a hit as the previously announced price of $4.8 billion has been cut by $350 million in the wake of a series of serious security lapses at Yahoo, reports NBC News.
The concession announced yesterday is still less than an expected $1 billion cut, and has somewhat reduced investor concerns.
There have been worries that the Verizon deal with Yahoo could be shelved or see a much-reduced takeover price after Yahoo announced that more than 1 billion user email accounts had been compromised in what is regarded as the two biggest security breaches in history. The breaches occurred in 2013 and 2014, and Yahoo revealed them last year.
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