Verizon to buy Yahoo for $250m less as deal to go ahead despite data breaches

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Verizon will press ahead with plans to buy Yahoo despite the two historic data breaches the internet giant revealed it had suffered last year.

The US telecoms giant Verizon has renegotiated its $4.8bn (£3.85bn) deal to buy Yahoo to pay around $250m less in the wake of the record-breaking cyber attacks, according to Bloomberg.

The sale, which was due to go ahead in the first three months of 2017, was delayed and almost derailed after Yahoo revealed hackers had stolen details from around 1.5bn accounts in two separate attacks back in 2013 and 2014.

While Yahoo did not reveal the number of accounts affected in the most recent attack, it is understood that most of the account holders have already been notified. The company first revealed details of the recent breach last December.

As part of the sale Verizon will acquire Yahoo’s core internet business, which will split from the remaining units of the business that will run as an investment company called Altaba.

According to Telegraph, Verizon and the Yahoo spin-off are expected to share the ongoing legal burden of the data breaches.

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