Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

UBS seeks Swiss backstop in any Credit Suisse deal - Bloomberg News

Published 03/18/2023, 08:12 AM
Updated 03/18/2023, 08:15 AM
© Reuters. A logo is seen on the headquarters of Swiss bank UBS on Paradeplatz in Zurich, Switzerland March 16, 2023. REUTERS/Denis Balibouse

(Reuters) - UBS Group AG (SIX:UBSG) is asking the Swiss government for a backstop if it were to buy Credit Suisse Group AG, Bloomberg News reported on Saturday.

UBS is discussing scenarios in which the government would take on certain legal costs or other specific losses in any deal, the report said, citing people with knowledge of the matter.

Under one likely scenario, the deal would involve UBS acquiring Credit Suisse to obtain its wealth and asset management units, while possibly divesting the investment banking division, the report added.

UBS Group and Credit Suisse did not immediately respond to Reuters requests for comment.

Reuters reported earlier that Credit Suisse is weighing several survival options as regulators urge the investment bank to pursue a deal with UBS.

Latest comments

right hindburg just tried to attack on indian economy,,,they should have analysed on their system first ,,,,😆😆
they should have rated and analysed themselves before Adani, a hopeless organisation
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.