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    TCS   US87238U2033

TCS GROUP HOLDING PLC

(TCS)
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Delayed London Stock Exchange  -  02:00 2022-03-03 am EST
3.193 USD   -.--%
08/03Russia's Tinkoff Bank acquires 33% in online search service AnyQuery
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07/06Russian bank Tinkoff suspends outgoing FX SWIFT transfers until October
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07/05Russia's Potanin weighs $60 bln metals merger as defence against sanctions
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Britain sanctions Russian oligarch Vladimir Potanin

06/29/2022 | 06:26am EDT

LONDON, June 29 (Reuters) - Britain on Wednesday announced sanctions on oligarch Vladimir Potanin, described by London as Russia's second-richest man and who has been buying assets from firms exiting Russia over the invasion of Ukraine.

Potanin, known as Russia's "Nickel King," was included in the latest wave of sanctions listings by Britain which included business figures, financial firms and other entities.

Britain, along with Western allies, has been imposing sanctions against Russian elites, banks and strategic industries since Russia invaded Ukraine in February. Russia says it is conducting a "special military operation" in Ukraine.

"Today's sanctions show that nothing and no one is off the table, including Putin's inner circle," a British government spokesperson said.

Potanin is one of Russia's richest people, although his net worth depends largely on the value of his 36% stake in Nornickel , the world's largest producer of palladium and refined nickel.

Since the invasion, Potanin has snapped up Rosbank from Societe Generale when the French lender exited the Russian market, before adding a 35% stake in TCS Group. The deals were done via his Interros holding company.

"Potanin continues to amass wealth as he supports Putin’s regime, acquiring Rosbank, and shares in Tinkoff Bank in the period since Russia’s invasion of Ukraine," the government press notice accompanying the announcement said.

The British sanctions list said Potanin had been included because he was "obtaining a benefit from or supporting the government of Russia by owning or controlling Rosbank. Rosbank is carrying on business in the Russian financial services sector, which is a sector of strategic significance to the Government of Russia."

The list also included Anna Tsivileva, who the foreign office said was Putin’s cousin and president of Russian coal mining company, JSC Kolmar Group. The mining company was also sanctioned. (Reporting by William James; Editing by William Schomberg and Alistair Smout)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CIRCLE S.P.A. 0.00% 3.74 Delayed Quote.-3.61%
PALLADIUM -0.02% 2254.5 Delayed Quote.17.27%
PUBLIC JOINT STOCK COMPANY MINING AND METALLURGICAL COMPANY NORILSK NICKEL 1.03% 16720 End-of-day quote.-26.76%
PUBLIC JOINT STOCK COMPANY ROSBANK 0.00% 111.2 End-of-day quote.46.32%
TCS GROUP HOLDING PLC 0.00% 3.193 Delayed Quote.-96.21%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 1.72% 61.5014 Delayed Quote.-18.43%
All news about TCS GROUP HOLDING PLC
08/03Russia's Tinkoff Bank acquires 33% in online search service AnyQuery
RE
07/06Russian bank Tinkoff suspends outgoing FX SWIFT transfers until October
RE
07/05Russia's Potanin weighs $60 bln metals merger as defence against sanctions
RE
06/30TCS Group Holding PLC publishes 2021 Sustainability Report
EQ
06/29Britain sanctions Russian oligarch Vladimir Potanin
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06/16Russia's Tinkoff introduces 3% commission on incoming SWIFT FX transfers
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06/10Russian c.bank to scrutinise banks' plans for fees on FX accounts
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06/09Russia's Tinkoff to charge monthly 1% fee on FX accounts to reduce exposure
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06/09Russia's Tinkoff to charge monthly 1% fee on FX accounts to reduce exposure
RE
06/08Tech firms request inclusion on Russia's domestic software list -RBC
RE
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Financials (USD)
Sales 2022 2 159 M - -
Net income 2022 632 M - -
Net Debt 2022 - - -
P/E ratio 2022 3,47x
Yield 2022 -
Capitalization 2 181 M 2 181 M -
Capi. / Sales 2022 1,01x
Capi. / Sales 2023 0,84x
Nbr of Employees 43 787
Free-Float 58,4%
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Mean consensus HOLD
Number of Analysts 2
Last Close Price 11,01 $
Average target price 88,55 $
Spread / Average Target 704%
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Managers and Directors
Ilya Nikolaevich Pisemsky Chief Financial Officer
Constantinos Economides Executive Director
Margarita Hadjitofi Independent Non-Executive Director
Daniel Lesin Wolfe Independent Non-Executive Director
Maria Trimithiotou Executive Director
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