Swiss banking giant UBS voluntarily ends state and central bank support that smoothed its takeover of stricken Credit Suisse, saying they are no longer necessary. – EPA pic, August 11, 2023.
SWISS banking giant UBS voluntarily put an end today to the state and central bank support that smoothed its takeover of stricken Credit Suisse, saying they were no longer necessary. UBS agreed to buy its rival in a three-billion-franc fire sale hastily arranged over a March weekend by Swiss authorities afraid that a weakened Credit Suisse would go bankrupt.
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