NEW YORK: Yahoo Inc came under renewed scrutiny by federal investigators and lawmakers on Thursday after disclosing the largest known data breach in history, prompting Verizon Communications Inc to demand better terms for its planned purchase of Yahoo's internet business. Shares of the Sunnyvale, California-based internet pioneer fell more than 6 percent after it announced the breach of data belonging to more than 1 billion users late on Wednesday, following another large hack reported in September. Verizon, which agreed…
WASHINGTON: Verizon Communications Inc (VZ.N) said on Thursday it has a "reasonable basis" to believe Yahoo Inc's (YHOO.O) massive data breach of email accounts represents a material impact that could allow Verizon to withdraw from its $4.83 billion deal to buy the technology company. Verizon's general counsel Craig Silliman told reporters at a roundtable in Washington the data breach could trigger a clause in the deal that would allow the US wireless company not to complete it. "I think we have a reasonable basis to…
SAN FRANCISCO, UNITED STATES: Yahoo sealed a deal Monday to sell its core business to telecom giant Verizon for $4.8 billion, ending a two-decade run as an independent company for the internet pioneer.