Investing.com – Yandex shares rose 4.12% to RUB 5,101.8. As of 11:01 am Moscow time on Wednesday, September 23, according to data from the Moscow Exchange. The company's securities exceeded 5,000 rubles. for the first time since September 8.
On Tuesday evening, September 22, shares jumped 11.8% to $ 66.06 on Yandex's main trading floor in New York.
Yandex shares rise in price on news of the possible purchase of 100% of TCS Group, the parent company of Tinkoff Bank. The parties reached a preliminary agreement, according to which Yandex will have to pay $ 27.64 for each share, which will total about $ 5.48 billion. The final purchase conditions will depend on the results of the due diligence of the asset, TCS said.
After the appearance of this information, the fortune of the founder of “Yandex” Arkady Volozh on Tuesday increased by $ 227 million, and the founder of Tinkoff Bank Oleg Tinkov – by $ 32 million, writes Forbes.
“Yandex and Tinkoff have great prospects – they will be able to bite off a significant market share, including from Sberbank and Mail.ru. Plus, Yandex and Tinkoff have accumulated a huge amount of data that will allow them to compete on equal terms with other ecosystems, ”Arseniy Dabbakh, founder of the Dsight analytical company, said in a commentary to the publication.
“The deal is significant. I suppose others will follow her. The Russian market can be congratulated on this deal, ”wrote Evgeny Kogan, professor at the Higher School of Economics, investment banker, on his Telegram channel. In his opinion, this deal will lead to new deals and, in general, to a series of very interesting events. On the other hand, this is the beginning of a new stage of competition, added Kogan.
“I think the next in line for growth are the shares of AFK Sistema, Mail.ru and a number of other issuers, potential objects or subjects of such transactions,” the analyst emphasized.
(Text prepared by Yana Shebalina)