Yandex to buy Tinkoff: Deal parameters and implications
By Mikhail Terentiev, CFA, Head of Research; Oksana Mustiatsa, CFA, Analyst; and Andrey Mikhailov, Senior analyst We believe the proposed acquisition of Tinkoff (TCS) by Yandex (YNDX) is a win-win for both companies. From YNDX’s perspective, TCS’ valuation looks reasonable, and its takeover should create a vast scope for synergies, cross-selling and product bundling, solidifying the …
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