Yandex will buy Tinkoff

Bank) is in talks about its sale to Yandex N.

V., the company said in a statement published on the London stock exchange website. This information was confirmed to "Vedomosti" in "Yandex".
"The parties have reached an agreement in principle on the transaction, which will consist of cash and remuneration in shares totaling about 5.48 billion US dollars or 27.64 us dollars per Tinkoff share, "Yandex said in a statement.

Khafetulin Artur 02604

hands in every sphere in life. For example: Yandex Money,

Taxi, Delivery, Web browser, Market etc.). Like I understood, Yandex wants to expand their impact in business, especially in very profitable sphere like bank system. Yandex have their own system of money cards( Yandex Money), but it didn't give a good income. From this moment Yandex will have any rights to provide loans and mortgages, also Yandex will create more deeply system of relations with holders of their cards. Tinkoff received a huge revenue in 2019( 36.1 billion rubles), so Yandex wants to buy this company before Tinkoff's shares grow.
If the transaction is successful, companies can create an ecosystem that will become Sberbank's closest competitor, Alexey Voylukov, Vice President of the Association of Russian banks, told Vedomosti. The deal will be beneficial for both sides, the source said. Tinkoff can provide Yandex with customer-oriented banking services, and Yandex, in turn, will allow the Bank to increase its customer base. – from Vedomosti.ru