Exclusive: UBS seeks about $6 billion in government guarantees for Credit Suisse deal
Reuters— UBS Group AG is seeking government guarantees of about $6 billion for a potential takeover of Credit Suisse Group AG , a person with knowledge of the discussions told Reuters on Saturday.
CNBC—UBS reportedly seeks $6 billion in government guarantees for Credit Suisse takeover. UBS is asking the Swiss government to cover about $6 billion in costs if it were to buy Credit Suisse, a person with knowledge of the talks told Reuters.
Zero Hedge—UBS Seeks Government Backstop As It Rushes To Finalize Credit Suisse Takeover Deal As Soon As Tonight. UBS Seeks Government Backstop As It Rushes To Finalize Credit Suisse Takeover Deal As Soon As Tonight So much can change in just 48 hours. Late on Thursday, just hours after the SNB had launched the first (of many) bailout attempts of Swiss banking giant Credit Suisse, Bloomberg blasted the following headline: UBS, CREDIT SUISSE SAID TO OPPOSE IDEA OF A FORCED COMBINATION This lack of enthusiasm by UBS to acquire its struggling rival of course forced the Swiss National Bank to...
WNYC—UBS rescues Credit Suisse in deal brokered by Swiss government. Swiss bank Credit Suisse was purchased by a rival Swiss bank UBS today for roughly $3 billion in an emergency deal that likely saved Credit Suisse from going bust.