“YANDEX” INTENDS TO BUY “TINKOFF”

A representative of TCS Group, which also owns Tinkoff Bank, announced the possibility of imminent purchase of TCS Group shares by Yandex.

According to preliminary data, the parties came to an agreement on the value of $ 5.48 billion, while 53.1% of the company's shares are in free circulation and only the rest of them are owned by Oleg Tinkov's family and management.

Perhaps such a large purchase is related to the offer of Oleg himself, who came up with an initiative to merge businesses with the founder of Yandex last summer. Then Arkady Volozh promised to discuss the proposal with the partners.

It is worth noting that the possible purchase of TCS Group shares and, as a result, Tinkoff Bank, does not mean the flight of the credit institution's clients.

Most likely, there will be a reinforcing effect from the interaction of two large companies both in terms of manufactured products and customer base.

The stock exchange is already showing growth in the securities of both companies - the TCS Group's depository receipts hit a historic maximum on Tuesday evening, soaring by more than 12%. Shares of Yandex had an increase of 8% as well, and the experts directly link this with the upcoming deal.

One can only guess Yandex's motives for acquiring such a giant as TCS Group. One of the possible versions is the desire of the buyer to develop in the fintech area, increasing the company’s capabilities.