Sure, the traffic would still go through US, but that can be encrypted (with something better than SSL).
They could also spend billions buying every block of lego to create a Yahoo logo visible from space. Which makes about as much sense as introducing significant legal risks to their business all for a few thousand new email accounts.
http://knowledge.allianz.com/environment/energy/?246/sea-sna...
Sure, the traffic would still go through US, but that can be encrypted (with something better than SSL).