Yandex Shares Jumped 4.45% On News Of The Purchase Of TCS Group
Yandex shares jumped by 4.45% — the upper limit set before the opening of trading on the Moscow exchange, and continue to win back the news of the purchase of TCS Group Holding, whose securities are falling correctively, follows from the trading data of the Moscow exchange.
By 10.10 Moscow time, Yandex shares were growing by 3.57% — 5075 rubles (already jumped by 4.45% - to 5118 rubles), TCS Group Holding's Depositary receipts, which includes Tinkoff Bank, are down by 2.73%. At the same time, the Moscow Exchange index rises by 1.4%.
Earlier on Wednesday, the Moscow exchange reported that it raised the price range to 5,118 rubles and the range of market risk assessment to 5,498.67 rubles for Yandex shares.
After closing the main session on the Moscow stock exchange on Tuesday, TCS Group announced that it had reached an agreement in principle with Yandex on its entry into the capital of TCS, the total amount of the transaction is estimated at $5.48 billion. Yandex confirmed that it is negotiating a possible purchase of 100% of TCS Group.