This information dismisses the possibility of UBS acquiring Credit Suisse’s wealth and asset management business while selling off the corporate banking sector. The main economic actors in the country consider this purchase as the only solution to prevent the collapse of the bank.
Swiss and international financial circles await the possible purchase of Credit Suisseafter a week of heart attack on the stock market, by its main Swiss rival, ubs bankan operation that some analysts believe could take place this weekend, to avoid another collapse during the first trading session on Monday.
Rumors of the purchase of Credit Suisse (Switzerland’s second largest bank by market volume) by UBS (first), first published by the Financial Times newspaper, have increased today with information from the Bloomberg agency ensuring that the potential purchasing entity has asked the Swiss government for guarantees that a partial or full takeover of its rival will not cause it legal problems or losses.
This information takes into account the possibility that UBS, whose head office is a neighbor of Credit Suisse in Zurich (both are located on the main square Paradenplatz), will take over its rival’s wealth and asset management business, while it would be the corporate bank to sell.
a Merger UBS-Credit Suisse not possible in accordance with national competition rules, given the dominant position of both in the Swiss banking sector.
The Swiss economic agency AWP confirmed that both the Swiss National Bank (SNB) and the stock market regulatory commission (Finma) admit that the purchase of Credit Suisse by UBS is the only solution to avoid the collapse of the bank of the two candles.
Wrapped in serious financial and image problems, the bank Credit Suisse suffered a 24% drop on the Zurich stock exchange last Wednesday after its main shareholder since 2022, the Saudi National Bank, assured it would stop investing in the Swiss entity to to clean up his battered accounts.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
