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Oleg Tinkov is negotiating with MTS on the sale of Tinkoff Bank

October 14, 2020|
30

Oleg Tinkov,  founder of Tinkoff, who less than a month ago confirmed a possible deal with Yandex, is negotiating with other potential buyers. MTS or MTS Bank, members of AFK Sistema of Vladimir Yevtushenkov, can “kill” the deal with the Internet company. According to the newspaper, there are no final agreements yet.

Back in July 2020, an acquaintance of Yevtushenkov informed the publication about the discussion of the deal. Negotiations continue, but Yevtushenkov has not made a decision yet.

Oleg Tinkov estimated the likelihood of concluding a deal with Yandex as 50/50 in a post on Instagram on October 4. In the post he argued that Tinkoff Bank aims to achieve the target of 20 million active clients and $1 billion in net profit [as of October, the bank has 11 million customers, net profit for 2019 was 36.1 billion rubles, or approximately $470 million.

According to the sources of the publication, negotiations between the businessman and Yandex are continuing and are going slowly, the parties have not yet reached a final agreement.

Original (in Russian)

Subject:

#deals

Companies:

#Yandex#MTS

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