Refinitiv Newscasts - Reuters Today: UBS completes Credit Suisse takeover

Credit Suisse AG

12/06/2023 10:22

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Source: Reuters

Description: UBS sealed the deal within 3 months to buy its rival for a
knockdown price of 3 billion swiss francs. It also assumed up to 5 billion
swiss francs in losses to complete the takeover of Switzerland's second
biggest bank. Both UBS and the Swiss government have offered assurances that
the takeover will pay off for shareholders and will not become a burden for
the taxpayer.
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