Yandex and TCS Group terminated negotiations on the purchase of Tinkoff Bank

Yandex and TCS Group Holding PLC (Tinkoff) are ending negotiations on a possible purchase by Yandex of 100% of Tinkoff's share capital, the release says.

The company explained that this decision was mutual and was due to the inability to agree on the final terms of the transaction.

At the same time, Yandex thanked Tinkoff for the work in the negotiation process.

At the end of September it became known that Yandex had agreed with TCS Group to purchase Tinkoff Bank for $ 5.48 billion.