Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Moscow Micex - RTS  >  Sistema PublicFinancial Corporation    AFKS   RU000A0DQZE3

SISTEMA PUBLICFINANCIAL CORPORATION

(AFKS)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Russia's Yandex and TCS terminate $5.48 billion Tinkoff talks

10/16/2020 | 11:06am EST
FILE PHOTO: The logo of Russian internet group Yandex is pictured at the company's headquarter in Moscow

MOSCOW (Reuters) - Plans for Russia's biggest corporate deal of 2020 collapsed on Friday after talks over a $5.48 billion cash-and-share sale of online bank Tinkoff to internet giant Yandex ended.

Discussions over the potential tie-up, which would have increased competition for Russia's largest lender Sberbank and smaller rivals in technology and banking, stalled less than four weeks after they were announced by Tinkoff parent TCS Group Holding.

TCS said in a statement it had agreed with Yandex not to proceed with the transaction, but Tinkoff would continue to partner with it on existing and future projects.

"Today I decided to break the possible deal with Yandex," TCS founder Oleg Tinkov said in an internal email which was seen by Reuters on Friday.

Tinkov, a major TCS shareholder, could not be reached for comment and the online bank's press office declined to comment.

Yandex shares fell 2.2% in Moscow to 4,652.0 roubles ($59.64) at 1451 GMT, while TCS Group's London-listed shares were 1.3% lower, after earlier hitting a three-month low.

'NOT FOR SALE'

TCS and Yandex announced they were in talks on Sept. 22, a few months after Yandex said it was ending its partnership with Sberbank, Russia's largest lender.

Tinkov said in his email that Yandex was interested only in a takeover of Tinkoff, the world's largest fully online bank with more than 10 million customers across Russia, whereas Tinkov viewed the deal as a merger.

Yandex had agreed that Tinkov would be involved in managing the bank and help Yandex in general after the deal, Tigran Khudaverdyan, Yandex's deputy CEO, said in a post on his corporate blog, confirmed as genuine by its press department.

Khudaverdyan said Tinkov had made more demands after each stage of talks and his decision did not come as a surprise.

Tinkov had previously played down talk of an acquisition, insisting the deal being discussed with Yandex was not a sale but a merger.

"Tinkoff is not for sale, neither to Yandex, nor MTS," Tinkov said, referring to reports that TCS was in discussions to sell the bank to Russia's top mobile operator MTS.

And Vladimir Yevtushenkov, head of Sistema, MTS' major shareholder, told Reuters he not been approached by Tinkov.

Maria Sukhanova, a TMT analyst at BCS Global Markets, said further approaches were possible.

"We can't rule out that parties will resume talks in the future or that another buyer in the TMT universe for all of, or a stake in, TCS will ultimately emerge," she said.

(Reporting by Andrey Ostroukh, Alexander Marrow, Anastasia Teterevleva and Tatiana Voronova; additional reporting by Polina Devitt, Nadezhda Tsydenova and Elena Fabrichnaya; Editing by David Goodman and Alexander Smith)

By Alexander Marrow and Andrey Ostroukh


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
MOBILE TELESYSTEMS -0.87% 319.5 End-of-day quote.-0.14%
SBERBANK OF RUSSIA -0.40% 263.94 End-of-day quote.3.61%
SISTEMA PUBLICFINANCIAL CORPORATION 0.25% 29.85 End-of-day quote.95.92%
TCS GROUP HOLDING PLC 0.79% 32.1 Delayed Quote.47.21%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.32% 74.3066 Delayed Quote.21.05%
YANDEX 0.20% 69.34 Delayed Quote.59.44%
All news about SISTEMA PUBLICFINANCIAL CORPORATION
12/03Russia's Sistema not planning to reduce stake in online retailer Ozon
RE
12/03SISTEMA PUBLICFINANCIAL : announces financial results for the third quarter 2020
PU
12/01SISTEMA PUBLICFINANCIAL : PJSFC raises record funds on the bond market
PU
12/01SISTEMA PJSFC : Sistema PJSFC raises record funds on the bond market
EQ
11/30SISTEMA PUBLICFINANCIAL : Rescheduled - Sistema Q3 2020 IFRS Financial Results C..
PU
11/29SISTEMA PUBLICFINANCIAL : Pricing of Ozon's Initial Public Offering
PU
11/29SISTEMA PUBLICFINANCIAL : Q3 2020 IFRS Financial Results Conference Call
PU
11/25SISTEMA PUBLICFINANCIAL CORPORATION : quaterly earnings release
11/24SISTEMA PJSFC : Pricing of Ozon's Initial Public Offering
EQ
11/19COVID-19 CRISIS : a shot in the arm for Russian e-commerce
RE
More news
Financials (USD)
Sales 2020 9 218 M - -
Net income 2020 235 M - -
Net Debt 2020 8 196 M - -
P/E ratio 2020 25,0x
Yield 2020 7,24%
Capitalization 3 757 M 3 763 M -
EV / Sales 2020 1,30x
EV / Sales 2021 1,22x
Nbr of Employees -
Free-Float 32,8%
Chart SISTEMA PUBLICFINANCIAL CORPORATION
Duration : Period :
Sistema PublicFinancial Corporation Technical Analysis Chart | AFKS | RU000A0DQZE3 | MarketScreener
Technical analysis trends SISTEMA PUBLICFINANCIAL CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Average target price 0,39 $
Last Close Price 0,40 $
Spread / Highest target 14,3%
Spread / Average Target -3,52%
Spread / Lowest Target -16,6%
EPS Revisions
Managers
NameTitle
Vladimir Sanasarovich Chirakhov President, Chief Executive Officer & Director
Vladimir Petrovich Evtushenkov Chairman
Vsevolod Valeryevich Rozanov Senior Vice President, Head-Finance & Investments
Vladimir Sergeyevich Travkov VP, Chief Financial & Investment Officer
Vladimir Semenovich Shukshin VP, Head-Information Technologies & Security
Sector and Competitors