In the course of negotiations on business consolidation, "Yandex" Company met with Oleg Tinkoff, the main shareholder of Tinkoff, but the entrepreneur's demands were constantly growing, said Tigran Khudaverdyan, director of Yandex in his letter to the employees. Earlier, the companies reported that they had reached agreements in principle to purchase Tinkoff by Yandex for $5.48 billion, but today the negotiations were terminated at the initiative of Oleg Tinkov.