Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict

Oleg Tinkov is in talks with buyers for potential divesture of the stake in TCS Group, Russian news outlet RBC reported citing sources.

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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

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