Oct 16, 2020
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The Central Bank will check Yandex and Tinkoff Bank for insider trading

The regulator will check the Internet corporation Yandex and Tinkoff Bank and find out whether the companies are involved in insider trading due to the refusal of the transaction for the purchase by the IT company of the head structure of the bank - TCS Group. This was reported in the press service of the Central Bank, referring to the head of the department for countering unfair practices Valery Lyakh.

We will check in any case. We conduct a preliminary analysis of all unusual transactions in order to identify signs of insider trading, - quotes Lacha TASS.

As the head of the department for counteracting unfair practices explained, the Central Bank will report the presence of signs of suspicious transactions after the end of the investigation, including in order not to indirectly influence the quotes. The regulator also stated that such verification is standard practice.

It became known on September 22 that Yandex was going to buy from TCS Group for $ 5.48 billion. After that, the shares of the group of companies immediately began to grow. On Friday, Tinkoff announced the termination of all negotiations on the possibility of purchasing the group of companies by the Internet holding.

Prior to that, the parties announced that they had reached an agreement in principle that Yandex would buy the group for $ 5.48 billion. At the same time, Yandex and Tinkoff stressed then that there was no confidence in reaching final agreements yet.

As wrote, Yandex shares fell 4.1% after the news of the cancellation of the deal with TCS Group.


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