Yandex’s management Yandex got upset after the acquisition was canceled Tinkoff Bank , said the head of the company Tigran Khudaverdyan at the online conference Yet another Conference 2020, broadcast which was conducted on the Yandex website.
“Obviously, we are upset,” Khudaverdyan noted, adding that the company spent a lot of time preparing the deal. “The team has invested. And, of course, we would not have spent it if we did not consider this deal necessary for the business,” said the head of Yandex.
Earlier, Khudaverdyan said that the initiator of the deal was the founder and main shareholder of Tinkoff Bank Oleg Tinkov . He, according to the head of Yandex, abandoned his original plans because he “changed his mind about selling.”
Yandex’s intention to buy Tinkoff Bank became known in September. It was assumed that the company will buy out all 100 percent of the shares of TCS Group (the head structure of the credit institution), including minority shares. The deal was valued at $ 5.48 billion.
In mid-October, the parties announced the break of the preliminary agreements. Tinkov, in turn, said that the bank is not for sale.