Yandex and Tinkoff end merger negotiations
- Tinkoff Group and Yandex have officially announced an end to negotiations on the potential acquisition
- Yandex announced being in discussions with TCS Group Holding to acquire 100% share capital of Tinkoff on 22 September
- According to the Bell, the proposed shape of the post-merger business did not meet Oleg Tinkoff's initial expectations
Tinkoff Group and Yandex have officially announced an end to negotiations on the potential acquisition of 100% of Tinkoff equity by Yandex ($5.48bn preliminary price indication), which was initially announced by the parties on 22 September.
According to the Bell, citing a message from Oleg Tinkoff to employees, the proposed shape of the post-merger business did not meet his initial expectations. Apparently, he had hoped to have had a bigger influence in the enlarged company than what Yandex were prepared to give.
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The contents of this document have been prepared by Joint Stock Company “Alfa-Bank” ("Alfa Bank") as Investment Research within the meaning of Article 36 of Commission Delegated Regulation (EU) 2017/5...