The proposed megamerger between Russia’s leading technology company Yandex and fast-growing challenger bank Tinkoff has been scrapped after the bank’s billionaire founder Oleg Tinkov walked away from the negotiations.
In an announcement to the London Stock Exchange — where Tinkoff’s holding company TCS is listed — the bank said negotiations between the two sides had been “terminated, effective immediately.”
Yandex and Tinkoff previously…
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