Russian business tycoon Tinkov, who condemned war in Ukraine, sells company stake to Putin ally Potanin

World: Oleg Tinkov, a Russian billionaire who has called Russia's military aggression against Ukraine a crazy decision, has taken sold his stake in the firm he founded to a company controlled by Vladimir Potanin, a business tycoon close to Russian President Vladimir Putin.

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Russian business tycoon Tinkov, who condemned war in Ukraine, sells company stake to Putin ally Potanin
Russian business tycoon Tinkov, who condemned war in Ukraine, sells company stake to Putin ally Potanin

World: Oleg Tinkov, a Russian billionaire who has called Russia’s military aggression against Ukraine a crazy decision, has taken sold his stake in the firm he founded to a company controlled by Vladimir Potanin, a business tycoon close to Russian President Vladimir Putin.

Interros Capital which is owned by tycoon Vladimir Potanin stated on April 28 that it was acquiring a 35 per cent stake of Tinkov in TCS Group Holding, the group that owns Russia’s second-largest bank Tinkoff Bank.

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Interros said in a statement that the Russian central bank had approved the deal.

However, the price details were not disclosed, but a local news agency reported that it is estimated that the deal amounts to around $2.4 billion.

As per the sources, the Cyprus-based TCS Group Holding controls various companies, from banking and insurance to smartphones.

Tinkov, aged 54, who has long lived outside of Russia to receive medical treatment for leukaemia, has vigorously condemned the Russian war against Ukraine on social media after being targeted by international sanctions alongside other wealthy Russian people in business over the war.

Furthermore, Russian billionaire Tinkov is repeatedly criticising the ongoing war in Ukraine, saying that 90 per cent of the people of Russia did not support it.

“I do not see ANY beneficiary of this crazy war! Innocent individuals and fighters are dying,” he wrote in a post on Instagram on April 19.

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The 61-year old Potanin is the chief of mining giant Norilsk Nickel (Nornickel), which has benefited from high metal costs in recent times. According to a magazine, he is Russia’s second-richest man, with a fortune estimated at $17.3 billion.

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