FRANKFURT, March 18 — UBS is examining a takeover of Credit Suisse that could see the Swiss government offer a guarantee against the risks involved, said two people with...
FRANKFURT, March 18 — UBS is examining a takeover of Credit Suisse that could see the Swiss government offer a guarantee against the risks involved, said two people with knowledge of the matter today.
Regulators have urged Credit Suisse Group to pursue a deal with Swiss rival UBS as the troubled bank began a make-or-break weekend after some rivals grew cautious in their dealings with it. Dating back to the mid-nineteenth century, UBS is Switzerland’s biggest bank with a market value of 60 billion Swiss francs and the world’s largest wealth manager.
Earlier this week, UBS Chief Executive Ralph Hamers said he was focused on organic growth rather than M&A. The turmoil at Credit Suisse has put another dent in the Swiss reputation for financial stability on which UBS depends.
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