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Credit Suisse crisis nears finale as UBS discussions on takeover heat up

At the prodding of regulators, UBS has put aside its initial opposition to a deal and is exploring possible structures that could be executed quickly to halt a deep crisis of confidence

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Photo: Bloomberg

Bloomberg
UBS Group AG and Swiss officials are racing to put together a deal for the firm to take over battered rival Credit Suisse Group AG this weekend as they seek to navigate thorny issues such as a government backstop and the fate of the smaller firm’s investment bank. 

At the prodding of regulators, UBS has put aside its initial opposition to a deal and is exploring possible structures that could be executed quickly to halt a deep crisis of confidence, people briefed on the discussions said. UBS is asking the Swiss government to take on certain legal costs and potential

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First Published: Mar 19 2023 | 10:40 AM IST

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