Oleg Tinkov explained the reasons for the failure of the deal with Yandex. He was not satisfied with the ideology of the deal, namely, a sale instead of a merger. "We started the conversation by merging, searching for synergies and rapid growth of our client base. And we wanted to build the largest private company in Russia. In fact, everything turned out to be for sale, they just wanted to buy Tinkoff, with all the resulting negative consequences for us," he said in a letter to employees, saying that Tinkoff is not sold to anyone, including MTS.