Yahoo! (YHOO) Gains After Verizon (VZ) CEO Denies Reports It's Seeking $1B Discount

October 10, 2016 5:34 PM EDT

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Verizon Communications' (NYSE: VZ) CEO Lowell McAdam still sees real value in Yahoo! (NASDAQ: YHOO), according to CNBC. McAdam, at a conference earlier, denied a NY Post story that it was seeking a $1 billion discount on the purchase price.

According to Dow Jones, McAdam said Verizon continues to evaluation whether Yahoo's hack had a material impact on the business, but he thinks the deal still makes a ton of sense.

Shares of Yahoo! advanced post-market following the report.

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