Europe’s largest internet company, Yandex N.V. on Friday said, “The company has mutually agreed to terminate its discussion regarding a possible offer for TCS Group Holding PLC (Tinkoff), which was previously announced on September 22, 2020.”
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In a statement issued, Yandex said, “We regret to confirm that as it has not been able to agree with definitive transaction terms with Tinkoff Shareholders, and according to that the parties have mutually agreed to terminate discussions regarding the possible offer by Yandex for 100% share capital of Tinkoff.”
Adding to the statement, the company further said, “We, therefore, confirm that it does not intent to make an offer for tinkoff.”
