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Oleg Tinkov is in talks with buyers for potential divesture of the stake in TCS Group, Russian news outlet RBC reported citing sources.
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The news comes after the businessman Tinkov, who founded the Tinkoff bank, criticised the Russian invasion of Ukraine and the UK government imposed sanctions on him.
The Oleg Tinkov family trust is the principal shareholder in TCS Group with a 35.1% stake in it.
Tinkov is negotiating the sale of his stake in TCS Group. He wants to get out of Russian assets completely, one of the sources told the publication.
Another source, who also confirmed the sale, said that the businessman has already offered the trust’s stake in the group to potential buyers.
The sale process was initiated before Moscow launched a military operation against Ukraine and the sanctions were put in place, the source added.
According to media reports, last week, Tinkoff Bank said that it will abandon its current name and will be rebranded in 2022.
Notably, the bank has also distanced itself from the founder after he spoke up against the Russian invasion of Ukraine.
Declining to comment on Tinkov’s “personal opinion” the bank said: “Oleg Tinkov has not been a decision-maker in the Tinkoff Group companies for many years. He is not a Tinkoff employee, he has not been to Russia for a long time, and has been taking care of his health in recent years.”
Earlier this month, Cyprus-based TCS Group announced the transfer of shareholder authority over Tinkoff Bank
