Russia’s TCS Group says Tinkoff sale to Yandex now off

FILE PHOTO: The logo of Tinkoff Bank is seen on a board at the St. Petersburg International Economic Forum (SPIEF), Russia, June 6, 2019. REUTERS/Maxim Shemetov

MOSCOW (Reuters) – Russian bank TCS Group Holding TCSq.L on Friday said it had terminated discussions over a possible $5.48 billion sale of its online bank Tinkoff to internet giant Yandex YNDX.O.

TCS said the two parties had agreed not to proceed with the cash-and-shares transaction and terminated negotiations immediately, adding…


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