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TCS Group's Receipts Rose 6% On The London Stock Exchange

TCS Group's Receipts Rose 6% On The London Stock Exchange

The price of receipts of TCS Group Holding, which includes Tinkoff Bank, on the London stock exchange (LSE) is growing on Tuesday by 6%, according to trading data.

As of 10.35 Moscow time, the value of TCS Group Holding receipts grew by 6.06% to $ 27.57.

On Tuesday, after the close of trading in London, during the evening session in Russia, 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.

Oleg Tinkov, the founder of TCS Group, suggested that Arkady Volozh, the founder of Yandex, combine the business during the St. Petersburg international forum last summer. Volozh then promised to discuss this proposal.

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