UBS CEO signals takeover of Credit Suisse could be completed by Monday

Credit Suisse AG

09/06/2023 11:15

ZURICH, June 9 (Reuters) - UBS  UBSG.S  Chief Executive
Sergio Ermotti hinted on Friday his bank's takeover of Credit
Suisse  CSGN.S  will close on Monday, the earliest expected
date.
    "From Monday we will be new colleagues," Ermotti told the
Swiss Economic Forum in Interlaken. "We will together define
what the correct culture is for the company and everyone."
    UBS said early this week that it expected to complete the
deal as early as June 12. Earlier on Friday UBS and the Swiss
government announced an agreement to cover up to 9 billion Swiss
francs ($10.00 billion) in losses from its emergency takeover of
Credit Suisse  CSGN.S , clearing one of the last hurdles before
the deal could get finalised.

 (Reporting by John Revill and Noele Illien
Editing by Tomasz Janowski)
 ((John.Revill@thomsonreuters.com; +41 41 528 36 37; Reuters
Messaging: john.revill.thomsonreuters.com@reuters.net))