28.02.2020, 13:00
Tinkoff Bank Shares Fell 11% after Claims from the US Tax Service
Source: OREANDA-NEWS
OREANDA-NEWS. After it became known about the lawsuit of the US tax service in relation to Oleg Tinkov, head of the board of directors and founder of Tinkoff Bank, the bank's shares began to fall on the London stock exchange.
In London, shares of the parent company of the bank, TCS Group Holding PLC, registered in Cyprus, are traded. At 13:28 Moscow time (10:29 GMT), the fall in the value of securities traded under the TCSq ticker reached 11.44%. The price of one share fell to $ 20.90 at a price of $ 23.6 the day before. Market capitalization dropped to $ 4.64 billion.
On February 28, the press service of TCS Group Holding PLC announced that Oleg Tinkov was participating in a lawsuit initiated by the US Internal Revenue Service. Hearings will be held in London in February - April 2020. The company assured that Tinkov was confident in the successful resolution of the hearings, noting that since 2013 he was not a US citizen. In them he will participate as a private person.
The fact that Oleg Tinkov ceased to be a U.S. citizen is said in a report by the U.S. tax service for October 2017. According to the report, the list includes those persons whose loss of citizenship became known during the quarter ending March 31, 2017. In 2018, Oleg Tinkov was included in the “Kremlin report” of the US Treasury - a list of people who, according to Washington, are close to Vladimir Putin.
In London, shares of the parent company of the bank, TCS Group Holding PLC, registered in Cyprus, are traded. At 13:28 Moscow time (10:29 GMT), the fall in the value of securities traded under the TCSq ticker reached 11.44%. The price of one share fell to $ 20.90 at a price of $ 23.6 the day before. Market capitalization dropped to $ 4.64 billion.
On February 28, the press service of TCS Group Holding PLC announced that Oleg Tinkov was participating in a lawsuit initiated by the US Internal Revenue Service. Hearings will be held in London in February - April 2020. The company assured that Tinkov was confident in the successful resolution of the hearings, noting that since 2013 he was not a US citizen. In them he will participate as a private person.
The fact that Oleg Tinkov ceased to be a U.S. citizen is said in a report by the U.S. tax service for October 2017. According to the report, the list includes those persons whose loss of citizenship became known during the quarter ending March 31, 2017. In 2018, Oleg Tinkov was included in the “Kremlin report” of the US Treasury - a list of people who, according to Washington, are close to Vladimir Putin.
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