Verizon CEO dismisses report of $1bn discount on hacked Yahoo as 'total speculation'
Verizon CEO Lowell McAdam has dismissed reports regarding his company seeking to lower the price of Yahoo following the disclosure of the massive 2014 data breach, wherein 500 million user accounts were stolen. Citing several sources, the New York Post had reported last week that Verizon was pushing for a $1bn (£800m) discount on its pending $4.8bn takeover agreement with Yahoo.
When asked about the NY Post report at the Virtuous Circle 2016 tech conference in Menlo Park, California, McAdam called the report "total speculation", and said that he did not even bother to read the article. "That's total speculation," McAdam said, Business Insider reported. "We still see a real value in the asset. From what I understand, they actually got one thing right and that was the closing price of our stock."
