Yandex and Tinkoff Bank Partnership Takes a New Turn
Explore the latest developments in the collaboration between Yandex and Tinkoff Bank, highlighting their ongoing projects and future prospects.
Yandex and Tinkoff Bank will continue their collaboration as before, maintaining a strong partnership in various projects.
Update (October 16): The London Stock Exchange announced that negotiations have ended, and the acquisition will not proceed. Tinkoff Bank decided to pursue independent growth and will no longer be negotiating any sales agreements.
Despite this, Tinkoff Bank intends to keep working closely with Yandex on current and upcoming initiatives.
Original news from September 22:
Yandex initially reached an agreement to acquire TCS Group, whose main asset is Tinkoff Bank. The deal was valued at approximately $5.48 billion, or $27.64 per share, as confirmed by Yandex.
A preliminary agreement was signed, allowing Yandex to pay for TCS Group either with cash or its own shares.
Final terms depended on comprehensive due diligence and approval of the final documentation. Yandex noted that there was no certainty the deal would be completed.
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