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Verizon Executive Says Company Unsure About Yahoo Deal (reuters.com) 70

Posted by msmash from the not-sure dept.
A senior executive of Verizon said on Thursday the company was unsure about its planned acquisition of Yahoo's internet business. From a report on Reuters: "I can't sit here today and say with confidence one way or another because we still don't know," Marni Walden, president of product innovation and new businesses, said at the Citi 2017 Internet, Media & Telecommunications Conference in Las Vegas.To walk away, Verizon likely will have to show the overall value of Yahoo has declined as a result of the two hacking disclosures. "I have to have certain facts in order to be able to make a decision," she told WSJ. "There's a lot of stuff we don't know."
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Verizon Executive Says Company Unsure About Yahoo Deal More

Verizon Executive Says Company Unsure About Yahoo Deal

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  • What's that you say? Our bad security has cost us a billion dollars?

    • It's already cost a billion $ in lower offer. It might still cost them the rest.

      I think this is a very good thing. A company needs to be made an example of, Yahoo can disappear and nothing of value will be lost.

  • Run, don't walk. (Score:1)

    by Anonymous Coward

    "To walk away, Verizon likely will have to show the overall value of Yahoo has declined as a result of the two hacking disclosures."

    Just buy their user database from the hackers and cut out the middleman, right?

    • Yup. Verizon is only interested in the buyout for the user data. That user data is available for a song now on the "dark web", and advertisers who are interested in it already have a copy.

  • According to a number of reports, Yahoo's core business is valued at less than nothing, so I'm hard pressed to imagine how Verizon can prove they're even more worthless than that: http://www.cnbc.com/2015/10/21... [cnbc.com]

    • The key question is: How much are the Alibaba holdings really worth.

      China says you can't sell them, marking them to the Shanghai market is fiction.

    • Verizon can't just roll with some smartass reporter's comments about the drop in value.

      They have to be prepared to prove it in court if they back out of the agreement.

      I'm fairly sure that Yahoo is worthless as a tech company, but the contract probably has a lot of conditions and stipulations in it. This isn't like returning a TV to Best Buy when it doesn't work the way you thought it would.

      • If Verizon can show 'bad faith' on Yahoo's part regarding disclosure of known hacks/data breaches, they are out of the deal for a lawyer bill the will likely be 1% of the losses they avoid. Which is still a big old shyster bill.

  • This might be a neat case to finally establish real hard money lost to lousy security. Not hand-wavey lost time & estimated fraud and other made up^W^W statistically supported dollars, but no-shit, we really lost this many millions because we screwed up. Put that in your spreadsheet & smoke it...
  • I'm usually opposed to any industry mergers, but in this case I can say with confidence that Verizon deserves Yahoo.

    • Re: (Score:3, Interesting)

      by DickBreath ( 207180 )
      I wish a few years ago that Microsoft had gone through with blowing its wad (about 41 billiion) on Yahoo. It would have de-fanged Microsoft quite a bit. Been one more glorious achievement of Ballmer. Also both the technical clash and culture clash between the two would have provided years of entertaining watching.

      • The difference in value between MS's offer, Verizon's initial offer, Verizon's current offer and the nickel they eventually get for the shithole will serve as a lesson to all the world's MBAs.

        It has to happen, now is good.

  • Let it rest in peace.

  • Verizon: Fuck this, we're out.
    Yahoo: Even if we brought Carly...er...I mean Marissa back to run the division?

  • and I know it's a Telco, but work with me here...they will run, not walk, away from this deal. Yahoo had very little to offer even before the security debacle. At this point I would value Yahoo as something akin to a few practice jerseys and a bucket of pucks. In other words, practically nothing.

    I don't really care either way but the thought of that devious bitch of a CEO making off with millions after hiding the security hackings from their customers, not to mention Verizon, makes me ill.

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