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
