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Business

Yahoo faces European snooping probe

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Business

Yahoo faces European snooping probe

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COMING UP:Yahoo faces European snooping probe

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00:00:00
>> Yahoo could be headed for trouble in the Europe. Reuters reporting earlier this week that the firm scanned user's email at the request of US Intelligence services. Now European regulators are looking into whether Yahoo breached agreements on privacy. Reuters' reporter Tom Bergin says there's a clamor for more action.
00:00:18
>> We've already been in contact today with consumer organizations and MPs who are saying that they think that the authorities in Europe should be investigating Yahoo as to whether Europeans' data has been compromised.>> Sweeping a sensitive issue in Europe, the US viewed with suspicion by some after revelations that it even spied on close allies, including German Chancellor Angela Merkel.
00:00:41
Concern too about the power of giant US firms like Google and Yahoo which control much of the world's email traffic. If probes are launched, it could spell trouble for Yahoo's takeover by Verizon.>> Lawyers tell us that if Verizon didn't know about this, this may strike the company as a very bad headache.
00:00:59
Clearly, Yahoo is going to face a lot of additional costs dealing with these new investigations. It may also lose business from customers and clients who don't wanna do business with it. Its brand could also be damaged. So it may be that the price that Verizon agreed to pay some month ago isn't exactly the price that they think that Yahoo is worth as of today.
00:01:20
>> In February, Washington and Brussels agreed to a so-called Privacy Shield. It allows firms to move data on EU clients to the US, but it bounds wholesale surveillance of that data by intelligence agencies. US spies, as well as Yahoo, may have some questions to answer.