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UBS only wanted Credit Suisse if the price was low, and if Swiss authorities indemnified UBS from any Credit Suisse regulatory violations. [15] [16] On the morning of 19 March, UBS made an offer of 0.25 Swiss francs ($0.27) per share, valuing Credit Suisse at around $1 billion, but the price outraged the Mideast investors. SNB urged Credit ...
UBS also entered the life insurance business in 1993 establishing UBS Life. UBS formed a joint venture with Swiss Life in 1995, known as UBS Swiss Life. UBS took a 25% ownership position in Swiss Life in exchange for a 50% share in the joint venture. [5] UBS entered the 1990s clearly the largest and most conservative of the three large Swiss Banks.
After much speculation and concern about a banking crisis, UBS made its play for its stricken long-time Swiss rival late Sunday by agreeing to a $3.2 billion takeover of Credit Suisse .
Still, a person familiar with UBS's thinking said the bank was "relieved" by the plan set out and hoped to lobby for less stringent terms during the unfolding political process. UBS declined to ...
UBS has seen its shares gain 30% since the takeover was announced on March 19. But news of the probe could renew investor concerns about the lender’s exposure to Credit Suisse’s legal woes and ...
Credit Suisse Group AG (French pronunciation: [kʁe.di sɥis], lit. ' Swiss Credit ') is a global investment bank and financial services firm founded and based in Switzerland as a standalone firm but now a subsidiary of UBS.
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Switzerland's UBS (UBS) will not take legal action against former employees for racking up the massive losses on subprime mortgages that left the company needing a bailout. Kaspar Villiger, the ...