22.3 C
New York
Friday, September 27, 2024

UBS to take over Credit Suisse, assume up to 5 billion Swiss francs in losses

BERN, March 19 (Reuters) – UBS (UBSG.S) agreed to buy rival Swiss bank Credit Suisse (CSGN.S) for 3 billion Swiss francs ($3.23 billion) in stock and agreed to assume up to 5 billion francs ($5.4 billion) in losses, in a shotgun merger engineered by Swiss authorities to avoid more market-shaking …

This post was originally published on this site

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

156,651FansLike
396,312FollowersFollow
2,310SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x