Yandex announced the termination of negotiations on the possible purchase of 100% of the share capital of Tinkoff. The parties failed to agree on the final terms of the deal, the company stated in a press release. Immediately after the termination was announced, TCS Group’s receipts on the Moscow Exchange fell by more than 6%. The price of securities fell to 1,754 rubles. Yandex shares fell by 3.7%.
The merger negotiations between TCS Group and Yandex were announced on September 22. The parties claimed that they had reached a preliminary agreement.
On October 14, The Bell announced that MTS was interested in buying TCS Group.