After major security breach Verizon will drop Yahoo purchase
THE Verizon yesterday addressed the topic of a possible purchase by Yahoo for the first time. And just to imply that since Yahoo announced that it was the target of a mega-cyberattack, that the I wake up The purchase of the cybernetic multinational for 4.8 billion dollars (4.35 billion euros) that was achieved in July may be suspended.
Verizon General Counsel Craig Silliman said at a press conference cited by the Washington Post. According to the paper, a effect in this case will unavoidably damage Yahoo’s financial value and make it less attractive for purchase.
This is the first time the telecommunications giant has indicated it has doubts about the acquisition of Yahoo, three weeks after the latter announced that, in 2014, it was the target of a mega-cyberattack, the largest ever publicly revealed, in which they were personal information stolen from 500 million users.
Before the announcement, criticized for being late, it was anticipated that the I wake up purchase of Yahoo by Verizon it would close a tumultuous chapter in the history of the cyber company, whose executives over the years have been accused of mismanagement and failing to adapt to the modern Internet industry. Now, the revelations about doubts from Verizon pose a question mark over the future of Yahoo, whose I wake up sales should be completed in the first quarter of 2017.
According to Silliman, at this moment the Verizon is waiting for Yahoo to prove that the apparently cyberattack did not damage its value. If it concludes that the systems invasion had a on the business, then one of the main provisions of the I wake up. Industry analysts say this could leverage the use of a clause in the I wake up that allows the telecommunications company to take its multi-million dollar offer off the table.
In a statement, Yahoo said yesterday it is and guarantees that . The company has been heavily criticized for only announcing that it was the target of a attack in late September when he discovered the system crashes in August. Along with this, and contrary to what is common when data is stolen from cyber companies, Yahoo pointed the finger at — with official sources in the US administration saying, anonymously, that the FBI believes that it was Russian government hackers who exposed 500 million users, although there is no official conclusion on authorship.
the spokesperson for Verizon He says his company has already received on the attack from Yahoo, but stressed that According to Lowell McAdam, CEO of Verizon, his own cyber attack investigation is currently halfway through.
Some say in the middle that Yahoo can argue that the attack was conducted by a foreign government, taking refuge in the clause of or an event impossible to avoid rather than being considered a , in order to prevent the Verizon abandon the I wake up of purchase.
Yesterday, however, Silliman made it clear that this would have no impact.
Last week, the New York Post tabloid had suggested that the Verizon will try to get a $1 billion discount on the acquisition, a information which was refuted by McAdam as .