Yandex has reached a preliminary agreement to acquire TCS Group, the parent company of Tinkoff Bank. The press service says that it is about the possible acquisition of 100% of the company's share capital.

      The parties came to an agreement in principle on the deal. It implies remuneration in the form of cash and Yandex shares totaling about $ 5.48 billion, or $ 27.64 per Tinkoff share, Yandex reports.

      It is noted that the deal must still be approved by the owners of Yandex shares of class A, as well as the company's shareholders.