A senior Verizon executive who was instrumental in the telecom company’s planned $4.8 billion purchase of Yahoo’s Internet business expressed doubts over the deal, the second top exec to raise the specter of a changed or abandoned takeover.
“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 at Verizon, when asked about determining whether the deal gets done. She did, however, tell attendees at the investment bank conference in Las Vegas that the deal made sense.
Yahoo (YHOO) shares rose 3%.
Walden’s comments echo concerns of Verizon’s general counsel, who questioned the acquisition’s price tag because of a massive computer breach that compromised 500 million Yahoo customers. (Yahoo has since disclosed another breach, this time affecting more than 1 billion customers.)
Yahoo had no comment on Walden’s statement. “We are confident in Yahoo’s value and we continue to work towards integration with Verizon,” a Yahoo spokeswoman said.
Verizon declined further comment.
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SOURCE: USA Today, Jon Swartz