July 16, 2018 / 8:36 AM / 2 months ago

Russia's TCS acquires a stake in ticket selling firm

MOSCOW, July 16 (Reuters) - Russia’s TCS Group, the parent company of Tinkoff Bank, said on Monday it had acquired a stake in Kassir.ru, one of Russia’s largest ticket sales companies.

* Kassir.ru will sell tickets directly via the Tinkoff online bank and mobile app, it said.

* TCS did not disclose the price of the deal or the stake it bought

* In 2017, Kassir had revenue of 7.1 billion roubles ($114 million)

* “We are focusing on building out Tinkoff’s ecosystem as we seek to provide our customers with a range of daily services beyond financial and insurance products,” Tinkoff Bank CEO Oliver Hughes said

* “The integration of Russia’s top ticket sales company into the Tinkoff.ru platform will fulfil another daily customer need, this time in entertainment. This, in turn, strengthens our position in lifestyle services beyond banking,” he added

* Russia’s biggest mobile phone operator MTS bought a stake in the country’s two biggest ticket selling firms for more than $60 million earlier this year ($1 = 62.2055 roubles) (Reporting by Polina Devitt; editing by Jason Neely)

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