The mobile operator (VERIZON), previously confirmed last year that it will pay $4.83 billion for Yahoo's web business but could now end up tabling a bid $4.6 billion($250 million short). Thanks to the two high-profile Yahoo hacks that came to light last year, which affected more than a billion user accounts. Earlier reports suggested Verizon could be seeking $1 billion off the acquisition price and that was before Yahoo revealed its second (and even larger) data breach in December.
Should the transaction go through, all of the company's advertising, content, search and mobile operations will be transferred to Verizon and merged with AOL.
Well, Yahoo has a solid portfolio of services and websites. The Yahoo homepage is the default destination for over 43 million people and its Weather and Finance portals are also very popular. The company owns blogging service Tumblr and photo-hosting site Flickr, although they maybe aren't as competitive as they once were.
The deal will leave Yahoo with its existing cash, 15% stake in Alibaba and investment in Yahoo Japan. Once everything has been given the green light, the company will then change its name and become a "registered, publicly traded investment company."
Currently, it's still unclear when Verizon will actually submit its revised acquisition offer, but it sounds like we'll be hearing something soon. Verizon representatives have declined to comment about the report.
Comments
Post a Comment