Finance
UBS Takeover of Credit Suisse Could Be Imminent: Report
UBS
Group could complete a takeover of
Credit Suisse
Group as soon as Saturday evening, according to the Financial Times, as regulators rush to ink a merger of Switzerland’s two largest banks against a backdrop of industry turmoil.
Both the
Swiss National Bank
and regulator Finma now see UBS’s (ticker: UBS) purchase as the only option to tame mounting woes at Credit Suisse (CS), the FT reported on Saturday, citing anonymous sources close to the negotiations.
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