Discussions over a $5.48 billion cash-and-shares sale of on-line financial institution Tinkoff to Russian web big Yandex have been terminated after they didn’t agree transaction phrases. Tinkoff’s mum or dad firm TCS Group Holding stated on Friday that it had agreed with Yandex to not proceed with the transaction however Tinkoff would proceed to accomplice Yandex on present and future initiatives. Yandex, in the meantime, expressed remorse that it was unable to agree definitive transaction phrases with Tinkoff’s core shareholders.
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