10.03.2020, 13:31
TCS Group Shares Up 13% after Crash Last Week
Source: OREANDA-NEWS
OREANDA-NEWS. Paper TCS Group Holding, which includes Tinkoff Bank, rose 13% to $ 15.9 per GDR, according to the London Stock Exchange as of 13:27 Moscow time.
In late February, the U.S. Department of Justice accused Oleg Tinkov, head of the board of directors and founder of TCS Group Holding, of filing false tax returns. A few days later, he said that he had an acute form of leukemia. Tinkov said that he will now “fight for the main thing”, bearing in mind his health, and lawyers will deal with tax issues in the United States.
Three negative news - tax claims, illness and a collapse in oil prices - dealt a triple blow to TCS Group shares, as a result of which they fell 50% from the maximum levels, Aton analysts said. At the same time, all this news has a very limited direct impact on TCS Group shares. This is more an emotional reaction than a fundamental change, experts say.
Oleg Tinkov now owns a 40.4% stake in TCS Group Holding. Another 6.5% of the shares are held by the company's management, and the remaining 53.1% are in free float.
In late February, the U.S. Department of Justice accused Oleg Tinkov, head of the board of directors and founder of TCS Group Holding, of filing false tax returns. A few days later, he said that he had an acute form of leukemia. Tinkov said that he will now “fight for the main thing”, bearing in mind his health, and lawyers will deal with tax issues in the United States.
Three negative news - tax claims, illness and a collapse in oil prices - dealt a triple blow to TCS Group shares, as a result of which they fell 50% from the maximum levels, Aton analysts said. At the same time, all this news has a very limited direct impact on TCS Group shares. This is more an emotional reaction than a fundamental change, experts say.
Oleg Tinkov now owns a 40.4% stake in TCS Group Holding. Another 6.5% of the shares are held by the company's management, and the remaining 53.1% are in free float.
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