Tag Archives: Russian

Multi Billion Dollar Merger between Russian Tech Firm Yandex and Challenger Bank Tinkoff has been Scrapped

The recently proposed merger between Yandex, a major Russia-based tech firm, and banking challenger Tinkoff will not be finalized because the bank’s founder Oleg Tinkov has walked away from the deal. Tinkoff’s management confirmed that all negotiations between the two parties have now been “terminated, effective immediately.” Yandex and Tinkoff had previously reached an agreement “in principle” which would have led to the tech giant acquiring the challenger bank in a $5.5… Source link

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Russian online bank Tinkoff pulls out of $5.5bn Yandex sale

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… Source link

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Yandex vs. Sberbank: Battle of the Russian Tech and Finance Giants Begins

Yandex and Sberbank’s fight to gain control of Russia’s finance and technology industries is being billed as the corporate showdown of the decade. “Sberbank versus Yandex: The battle of the super platforms has begun,” declared Russian business daily Vedomosti last week. Novaya Gazeta went further, dubbing it a “war of the ecosystems.” The clash — which has been brewing in the background for years — took center stage last week when… Source link

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Russian Voice Assistant Alice Can Teach You How to Bet on Sports

on July 13, 2020 at 1:30 pm People in Russia can now ask the Alice voice assistant for the odds before making a bet through the online gambling platform Fonbet. Alice, created by Russian tech giant Yandex, can answer questions about sports betting, including making predictions that the company claims are 90% accurate thanks to its use of Fonbet’s database. Alice Bets Alice relies on information provided by Fonbet to answer thousands of different… Source link

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