Oleg Tinkov stopped the deal with the “Yandex”, triggering a drop Acciona Saveliev | 16.10.2020
Oleg Tinkov posted a staff that doesn’t believe in “bureaucratic company,” and that the Bank is not for sale neither Yandex nor MTS.
As reported by the publication of The Bell with reference to a message of Oleg Tinkov, the Bank employees likely deal with Yandex is broken. Founder
“Tinkoff” said that “was surprised that the brand Yandex such a negative attitude”.
“Why? We started talking about MERGING, the search for synergies and rapid growth in our client base. And wanted to build the largest private company of Russia. In fact all resulted in a sale, they
just wanted to by Tinkoff, with all the attendant negative consequences for us”, — explains his decision Tinkov. As an alternative plan Oleg offered to buy “this
The representatives of Yandex refused to comment on this statement. Later TCS Group (the parent structure of “Tinkoff”), and Yandex announced refusal to continue talks about the repayment of all joint
the capital of the Bank it will continue to develop independently. However, the company hopes to continue cooperation with the technology giant in current and future projects.
After the announcement of the failure of the transaction shares collapsed during trading on the Moscow exchange. Thus, the value of securities “Tinkoff” around noon, dropped to 1796 rubles, losing about 5 percent, and
shares AnnexA” — up to 4640 rubles, down more than 2 percent.
Recall that the original shareholders of TCS Group Holding PLC has received from the Russian IT company offer to buy out
100% of the shares of a company that unites Tinkoff Bank, insurance company Tinkoff Insurance and mobile operator Tinkoff mobile. Shareholders Tinkoff Bank’s prerequisites
had to get a premium of 8% over the closing price on September 21, 10,4% — to the average weighted price over the last month and 16.9% to the weighted average price over three months.
Mergers and acquisitions
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