MarketWatch: Russia’s ‘Google’ Yandex joins super-app race with $5.5 billion offer for online bank Tinkoff

MarketWatch: Russia’s ‘Google’ Yandex joins super-app race with $5.5 billion offer for online bank Tinkoff. “Shares in TCS Group Holdings rose almost 7% on Wednesday, after the Russian bank said it is in talks to sell its online bank Tinkoff to Russian technology giant Yandex for almost $5.5 billion. The two companies said late on Tuesday they had come to an agreement in principle on a cash-and-shares offer that would value London-listed Tinkoff at $5.48 billion, or $27.64 a share. The offer represents an 8% premium over Tinkoff’s closing share price on Sept. 21.”

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