Tinkoff, Russia’s leading online bank, has pulled out of a $5.5bn sale to search giant Yandex that would have represented a major shake-up to the country’s tech and finance industries.
Yandex said on Friday that “it has not been able to agree definitive transaction terms with the core shareholders of Tinkoff” and that the parties had decided to conclude the negotiations.
The collapse ends a year and a half of talks over what would have been a substantial tie-up at a…
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