Tag Archives: Tinkoff

Yandex and Tinkoff deal falls through

Russia-based search engine Yandex has announced that the acquisition of Tinkoff, worth USD 5.5 billion, has collapsed due to the parties having different views on the matter. Discussions over the potential tie-up, which would have increased competition for Russia’s lender Sberbank and smaller rivals in technology and banking, stalled less than four weeks after they were announced by Tinkoff parent TCS Group Holding. TCS said in a statement it had agreed with Yandex not to proceed… Source link

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Yandex and TCS Group Holding, the parent company of Russia’s top online bank Tinkoff, have terminated talks on Yandex’s proposed $5.48B deal to buy Tinkoff (Reuters)

Reuters: Yandex and TCS Group Holding, the parent company of Russia’s top online bank Tinkoff, have terminated talks on Yandex’s proposed $5.48B deal to buy Tinkoff  —  MOSCOW (Reuters) – Plans for Russia’s biggest corporate deal of 2020 collapsed on Friday after talks over a $5.48 billion cash … Source link

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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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There Will Be No Deal between Yandex (YNDX) and Tinkoff (TCS:IL), Stocks Fell, and the Central Bank Will Check the Companies for Insider Trading

Extremely Significant Deal Won’t Happen There will be no deal between Tinkoff Bank, one of the most popular in Russia, and Yandex, the country’s largest technology holding. The stocks of both companies led to a decline in the Russian market on Friday. Besides, the Central Bank has expressed a desire to check the companies for insider trading, according to media reports. Experts called the potential deal extremely significant for the entire Russian market since the merge of Tinkoff… Source link

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Yandex and TCS Group terminate takeover talks for online bank Tinkoff – Latest News

Plans for Russia’s biggest corporate deal of 2020 fell apart on Friday as talks over a $5.48 billion cash-and-shares sale of online bank Tinkoff to internet giant Yandex were terminated after failure to agree transaction terms. The potential deal – which would have provided competition for Sberbank in the technology and banking sectors – stalled less than four weeks after it was announced by Tinkoff parent TCS Group Holding. TCS founder Oleg Tinkov claimed responsibility for halting the… Source link

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No Deal For Yandex Merger With Tinkoff Group

Share Tweet Share Share Share Print Email Russian search giant Yandex said in a statement on Friday (Oct. 16) that merger talks with TCS Group Holding (Tinkoff) have fallen apart.  “Yandex regrets to confirm that it has not been able to agree to definitive transaction terms with the core shareholders of Tinkoff, and accordingly that the parties have mutually agreed to terminate discussions regarding a possible offer by Yandex for 100% of the share capital of Tinkoff,” Yandex said in a 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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Russia’s Yandex and TCS terminate takeover talks for online bank Tinkoff

FILE PHOTO: The logo of Russian internet group Yandex is pictured at the company’s headquarter in Moscow, Russia October 4, 2018. REUTERS/Shamil Zhumatov/File Photo MOSCOW (Reuters) – Discussions over a $5.48 billion cash-and-shares sale of online bank Tinkoff to Russian internet giant Yandex have been terminated after they failed to agree transaction terms. Tinkoff’s parent company TCS Group Holding said on Friday that it had agreed with Yandex not to proceed with the transaction but… Source link

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Russia’s Yandex and TCS terminate $5.48 billion Tinkoff talks

By Alexander Marrow, Andrey Ostroukh MOSCOW (Reuters) – Plans for Russia’s biggest corporate deal of 2020 collapsed on Friday after talks over a $5.48 billion cash-and-share sale of online bank Tinkoff to internet giant Yandex ended. FILE PHOTO: The logo of Russian internet group Yandex is pictured at the company’s headquarter in Moscow, Russia October 4, 2018. REUTERS/Shamil Zhumatov/File Photo Discussions over the potential tie-up, which would have increased competition for Russia’s… Source link

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