Richest Russian Buys Out ‘Grateful’ Oleg Tinkov in Deal Spree

Sanctioned Russian mogul Oleg Tinkov, who has become one of the Kremlin’s most outspoken critics, thanked the country’s richest man, Vladimir Potanin, for buying his stake in a digital bank for a fraction of what it was once worth.

The buyout adds to the flurry of deal-making by Potanin, who also bought Rosbank PJSC from Societe Generale SA last month and whose Interros Capital purchased payment-processer United Card Services, according to a statement Monday. Interros is buying Tinkov’s 35% stake in TCS Group Holding Plc for an undisclosed amount.