Oct 16, 2020
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Tinkoff refused to deal with Yandex

Tinkoff announced the termination of all negotiations on the possibility of purchasing a group of companies by the Internet holding Yandex.

The parties agreed not to proceed with the potential deal. Thus, negotiations between the parties regarding a potential deal were immediately terminated., - said in the message "Tinkoff".

Prior to that, the parties reported 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 emphasized that there was no certainty about reaching final agreements yet.

Tinkoff will have to undergo a comprehensive due diligence, and Yandex will have to obtain the consent of the shareholders for the deal. With reference to a source familiar with the situation, The Bell portal reported that Oleg Tinkov, in addition to Yandex's offer to buy the bank, is considering other offers, the buyer of the business may be MTS or MTS Bank.

As wrote, it became known earlier that the head of Sberbank, German Gref, would leave the board of directors of Yandex, the Internet company said in a statement.


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