Verizon lowers offer for Yahoo

Verizon Communications has said it would buy Yahoo’s core business for $4.48bn (€4.22bn), lowering its original offer by $350m in the wake of two massive cyber attacks at the internet company.

The closing of the deal, which was first announced in July, had been delayed as the companies assessed the fallout from two data breaches that Yahoo disclosed last year.

The No 1 US mobile phone operator had been trying to persuade Yahoo to amend the terms of the agreement following the attacks. As part of the revised deal, Yahoo and Verizon will share some liabilities arising from the hacks.