Russian billionaire Oleg Tinkov sells his 35% share in TCS Group Holding

Russia’s Interros Holding said on Thursday that it had acquired 35% of shares in TCS Group Holding from Russian billionaire Oleg Tinkov, Interros Holding’s press service said on Telegram.

The price and conditions of the sale are not disclosed. Russia’s Central Bank has already approved the deal.

“I am proud that together with my team, we have built the best bank in the country from the ground up. There is a consensus in our industry that this is the best digital bank in the world, and it was founded in Russia. Right now, it’s time for me to retire and take care of my health and family,” Oleg Tinkov, who founded the group, said.

TCS Group includes Tinkoff Bank, Tinkoff Insurance, Tinkoff Mobile and other entities. Interros Holding was founded by Russian billionaire Vladimir Potanin. “As a long-term financial investor, Interros is interested in TCS Group holding on to its leading positions on the Russian banking market,” Potanin said.