Yandex N.V. (YNDX) confirmed that it is in discussions with TCS Group Holding Plc or Tinkoff regarding a possible offer by Yandex for 100% of the share capital of Tinkoff.
The companies said they have come to an agreement in principle on a transaction that would consist of cash and share consideration worth about $5.48 billion or $27.64 per Tinkoff share.
The offer price would represent a premium of about 8.0% to the closing price per Tinkoff GDR of $25.60 on September 21.
The final terms of the deal will depend on the results of due diligence, the companies said in a statement.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.